JAKARTA (Yosefardi) – Some shares of coal producers retreated Friday after attracting buying on morning opening as investors made quick gains on the stocks.
Borneo Lumbung dropped 7.55% after gaining 3.77% in early morning trade and Bumi Resources fell 1.9% after rising 1.9% on market open at morning. While Berau Coal closed flat, reversed from 4.28% gain at morning opening.
Only Bumi Resources Minerals kept its gain, jumped 7.32% at market close. Indika Energi fell 2.3%, Adaro Energy declined 1.03%, and Delta Dunia dropped 5.94%.
Government officers are now disputing whether or not harmonizing royalty rate for coal (read royalty hike for miners operating under Mining Business License/IUP) should be implemented next year.