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Soaring Coal Prices Fuel Shares Of Indonesian Coal Company, Mints New Billionaire

Por: Forbes Business November 17, 2022

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A barge on the river of Mahakam to load coal from the mining area in Samarinda, East Kalimantan.BAY ISMOYO/AFP via Getty Images The share price of Jakarta-listed coal company Prima Andalan Mandiri more than doubled in the past year to 7,125 rupiah on Wednesday, making Eddy Sugianto, 76, Indonesia’s newest billionaire with a net worth of $1.2 billion. Sugianto’s family owns around 70% of the company directly and indirectly through holding... + full article



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