Indonesia Wants Cheaper Slice of Newmont
March 02, 2010
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The Energy Ministry wants a lower price for a 7 percent stake to be divested this year by gold and copper miner PT Newmont Nusa Tenggara, a unit of US-based Newmont Mining.
“We want it as cheap as possible,” Bambang Gatot Ariyono, director of coal and minerals at the ministry, said on Tuesday. He did not say if the government would seek to buy the stake. A total of 24 percent of NNT was sold last year, with a Bakrie-led consortium paying $247 million for a 7 percent slice. Newmont is to submit its divestment plan by the end of the month. JG
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