Metal Mining: Proposed Royalty Hike Will Pressure FY25 Earnings (NEUTRAL)
The MEMR on Saturday 8th Mar25 officially proposed an increase in royalty rate for Coal, Nickel, Copper, Gold, Silver, and Tin.
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Metal Mining: 4Q24 preview: A Softer Quarter on Easing Commodity Prices (NEUTRAL)
We estimate a slightly weaker 4Q24 earnings trend from declining ASPs, though some companies excel through soaring sales volume.
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Metal Mining: Nickel Ore Premium Might Be Here to Stay
Jan25 tin exports declined -67% mom due to a delay in export permits, supporting tin price, though exports are back on track by mid-Feb.
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Metal Mining: Possible Royalty Hike Could Pressure FY25F Earnings (NEUTRAL)
Though implementation is still uncertain, a royalty hike to 15% could strain FY25E earnings by -2% to -9% based on our estimation.
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Metal Mining: FY25F Outlook: Growth from a Low Base
With limited addition of RKEF capacity and closures of plants exIndonesia, we expect the oversupply of class-2 products to subside.We downgraded...
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