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Newmont Rejects Pukuafu’s Claim on Stake Sale
Reva Sasistiya | December 04, 2009

PT Newmont Nusa Tenggara PT Newmont Nusa Tenggara's Batu Hijau mine. (Photo: Reva Sasistiya, JG)
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PT Newmont Pacific Nusantara president director Martiono Hadianto on Monday dismissed PT Pukuafu Indah’s claim that it bought and paid for a further 7 percent of PT Newmont Nusa Tenggara for $258 million in 2008.

“Just think logically. If we really signed the agreement, we would report it to the government,” he said. “We would never try to cover it up because we could get in trouble.”

Newmont Pacific Nusantara, a subsidiary of US mining giant Newmont, oversees the company’s interests in the region, including Newmont subsidiary NNT.

Pukuafu has filed several lawsuits seeking legal recognition of its ownership of the 7 percent stake. The company, owned by Yusuf Mereukh, bought 20 percent of NNT in 1986.

Martiono said Newmont was happy to let the courts decide the matter.

Yusuf on Monday said Martiono had not joined Newmont when the agreement was signed. “He did not know about the signing,” he said.

Bambang Setiawan, director general of coal, mineral and geothermal energy at the Energy Ministry, said the government also would leave the issue to the courts.

“We never received any information that Newmont and Pukuafu had signed the agreement [for the purchase],” he said.