Newmont Nusa Tenggara's production unaffected as strike escalates , Bumi Resources (BUMI, Rp1,720)

Newmont Mining Corp., the U.S. largest gold producer, said production at its Batu  Hijau-based  gold and copper mines of Newmont Nusa Tenggara in Indonesia remained unaffected even as more workers joined a strike. About 500  employees  stopped work on the second day of the strike, Kasan Mulyono, a spokesman at Newmont Nusa Tenggara, said. As many as 300 workers had downed tools at midnight two days ago. The workers are planning to strike until Aug. 10, he said. “Newmont and the workers have yet to resume talks and we’re trying to seek alternative  solutions  to  settle  the overtime issue,” Mulyono said, without elaborating. An update on  the strike will be released later, he added. Newmont Nusa Tenggara is partly owned by a  venture  belonging to Bumi Resources and three local administrations in West Nusa Tenggara. – Bloomberg

Seeking partnership with CIC, TB Bukit Asam (PTBA, Rp16,300)

State-owned coal miner TB Bukit Asam said it may  seek  opportunity  from China Investment Corporation (CIC) in financing several projects, particularly in Muara Enim, South Sumatera the local newspaper reported citing Minister of State-Owned Enterprises Mustafa Abubakar saying CIC may invest US$2bn  in three state-owned companies, including TB Bukit Asam. However, the company is yet to meet CIC to negotiate such cooperation. TB Bukit  Asam  currently  has  US$1.5bn railways project of Bukit Asam Transpacific Railways that may need financings from China-based banks, the report said. – Investor Daily