Hedge funds slash bullish wagers on gold before war jitters
Speculators have reduced net-long positions by 3.6%.
Indonesian copper and gold miner PT Amman Mineral Internasional has submitted the documents needed to launch an initial public offering, an official at the financials regulator said on Monday.
Indonesia’s energy company Medco Energi Internasional owns a 23.1% stake in Amman Mineral.
Inarno Djajadi, head of capital market supervision at the Financial Services Authority, said his team was still reviewing the documents.
At a news conference, he said he could not give details on the amount that Amman hoped to raise or the IPO’s timeline.
The miner has 25,000 hectares (61,776 acres) of concession areas with reserves of 17.54 billion pounds (7.9 million tonnes)of copper and 23.9 million ounces of gold, according to its website.
Amman Mineral through its unit operates the Batu Hijau copper and gold mine in Indonesia’s West Nusa Tenggara province.
(By Stefanno Sulaiman; Editing by Martin Petty)
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