Newmont agrees to Indonesian share divestment

Bangkok News.Net
Tuesday 24th November, 2009

The Denver-based Newmont Mining Corp has taken a agreed to transfer a 14 percent stake in its Indonesian joint venture mine to a private company and to a consortium of regional and local Indonesian governments.

The proceeds from the deal are expected to total about $500 million.

Newmont has said the 14 percent stake in its PT Newmont Nusa Tenggara mine will be transferred to PT Multi Daerah Bersaing.

A separate 10 percent divestment was sold to the consortium last week, with Newmont receiving about $390 million.

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