“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Wednesday, December 10, 2008

Ancora has big investment plans for mining sector

The Jakarta Post, Jakarta | Wed, 12/10/2008 10:48 AM  

Publicly listed PT Ancora Indonesia Resources has plans to become a major player in the mining industry, with large-scale expansion into mining development and services, its president, Usman Darus, said Tuesday. 

It is considered one of the most promising sectors amid what most analysts foresee will be a sharp economic downturn next year, said Usman. 

It has recently acquired PT Multi Nitrotama Kimia, the producer of ammonium nitrate -- explosive materials used in mining operations. 

Ancora Indonesia is affiliated with Ancora Capital, Indonesia's first sharia-compliant private equity fund, through one of its major founding shareholders, Gita Wirjawan. 

Wirjawan, former country head of JPMorgan Indonesia and a believer in natural resource development, said Tuesday that Ancora Capital -- which he had founded earlier this year -- had raised US$300 million in equity funds from Muslim investors in Brunei, Malaysia and the Middle East. 

"So we still have a lot of ammunition. But our investment will focus on natural resources, especially mining and basic infrastructure." 

PT Ancora Indonesia Resources itself is the new listed name of PT TD Resources trading company which Ancora acquired in October through a rights issue. 

Earlier in September Ancora Capital, in cooperation with PT Mitra Rajasa, acquired the controlling ownership of oil-drilling and logistics firm PT Apexindo Pratama Duta through a deal estimated to be worth $182 million. 

Late last month, Ancora Capital also bought 5 percent of giant coal miner PT Bumi Resources at around $75 million from JPMorgan which had held those shares as collateral against loans. 

Wirjawan foresees a sharp downturn in Indonesia's economic growth from an estimated 6 percent this year to as low as 4 or 4.5 percent next year due to the deep recession in the developed economies and international credit crunch. 

"But that growth will still be respectable compared to the rest of Asia, except for China which may still be able to enjoy an expansion of 9 percent." 

Wirjawan sees natural resource-based businesses -- such as coal, oil and gas mining -- and infrastructure development as the most promising sectors for new investors in Indonesia. 

"Toll road development, for example, offers great opportunities for new investors but the government should streamline the procedures for land acquisition through new legislation."

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