Bre-X faces shareholders

Article Abstract:

Calgary, Canada-based Bre-X Minerals Ltd. President, Chairman and CEO David G. Walsh has released a statement to the shareholders to explain the firm's ownership in a gold mine in Busang, Indonesia. The issue erupted when the firm agreed with the Indonesian government to reduce its 90% interest in both Busang I and Busang II gold mines to 45%. The deal, which Walsh said reflected Indonesia's economic, political, and social atmosphere, angered Canadian stockholders because Bre-X conceded to the deal and no payment was made for the lost 45% stake.

Gold Mines, Gold Ore Mining, Gold ores, Management, Gold industry, Gold mining, Bre-X Minerals Ltd.

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Gas discovery bolsters Arco

Article Abstract:

Atlantic Richfield Co. (ARCO) boosts its standing in the oil industry with the discovery of vast gas fields in Irian Jaya, Indonesia. Irian Jaya's gas fields is Arco's largest hydrocarbon discovery in 30 years. Reserves from the discovery is expected to surpass its earlier projection of about 2.2 billion barrels of oil. The gas fields are also expected to enhance Indonesia's image as the leading exporter of liquified natural gas.

Crude Petroleum and Natural Gas Extraction, Natural Gas Liquid Extraction, Crude petroleum and natural gas, Oil & Gas Fields, Natural gas liquids, Oil and gas exploration services, Support Activities for Oil and Gas Operations, Liquefied Natural Gas & Ethane, Gas Field Exploration Services, Natural gas fields, Oil fields, Discovery and exploration, Atlantic Richfield Co., ARC, Natural gas field exploration services, Liquefied natural gas industry

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Suharto travels to Europe to undergo medical tests

Article Abstract:

Indonesian Pres. Suharto announced plans to fly to Germany for medical tests and possible treatment. Indonesian officials stress that Suharto remains in good health but the announcement has fueled concerns regarding the 75-year-old leader's potential successor. Informed sources revealed that Suharto will receive treatment for a kidney stone and will undergo several tests.

Health aspects, Officials and employees, Suharto

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