A major coal deal in Indonesia is set to secure a powerful new partner for one of the country’s biggest miners, even as the industry worries a delay in the government’s approval of production quotas could have a severe impact on the business outlook.
Low Tuck Kwong and his daughter Elaine Low, the biggest shareholders of Bayan Resources, agreed on September 16 to sell a 30 per cent stake in Indonesia’s third-largest coal producer to fellow tycoon Andi Syamsuddin Arsyad, better known as Haji…
