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Indonesia’s strong economic prospects have not gone unnoticed, with US investment bank JP Morgan considering raising its stakes here by investing in mining company PT Newmont Nusa Tenggara as well as several banks, the state enterprises minister said on Tuesday.

“JP Morgan wants to increase its investment in Indonesia. The bank has declared its interest in acquiring Newmont shares, as well as in acquiring shares in Indonesian banks through credit partnership,” Mustafa Abubakar said.

The minister said JP Morgan representatives visited him on Monday to discuss possible investments. The bank did not, however, reveal how much it was looking to spend, he said.

US-based Newmont Mining must complete a government-mandated divestment of some of its NNT shares this year. Last year, the miner sold a 24 percent stake to Bakrie Group-backed consortium PT Multi Daerah Bersaing.

Newmont has priced the final 7 percent stake at $444 million, 80 percent more than an initial value of around $246 million last year, as rising commodity prices have driven up NNT’s assets.

Multi Daerah Dersaing has already announced plans to acquire the final piece of NNT on offer.

Meanwhile, the nation’s largest lender, PT Bank Mandiri, said it would welcome any move by JP Morgan to buy shares in Indonesian banks.

“We’re open to foreign capital influx through the rights issue, but the government will maintain its 60 percent stake,” said Agus Martowardoyo, the bank’s president director.

Agus said the bank would increase its second-half rights issue to between Rp 6 trillion to Rp 7 trillion, ($666 million to $777 million) by issuing new shares amounting to around 11 percent of its total equity.

The share sale is pening approval of the House of Representatives and the government’s privatization committee.

JP Morgan could not be reached for comment.