Newmont deal....

Govt, Newmont finish negotiations
for 14% stake deal

Oleh :Alfian and Aditya Suharmoko

The Jakarta Post

Negotiations have concluded between the government and US mining giant
Newmont Corp. over share prices for the company's local subsidiary, PT
Newmont Nusa Tenggara (NNT), valuing a 14 percent stake at US$493.6 million.

The conclusion leaves the Finance Ministry to decide whether the central
government will be buying the stake or leaving it for other parties such as
regional administrations.

"Now the ball is in the Finance Ministry's court. We expect the ministry to
make a decision by the end of this month because we don't have much time,"
Energy and Mineral Resources Minister Purnomo Yusgiantoro told a press
conference on Thursday.

The government and Newmont have spent more than three months negotiating the
value of NNT assets, which was to be used as the base price for the stake to
be divested.

Purnomo said the agreement was reached on Tuesday.

"The government and Newmont agreed the NNT's total assets value was $3.52
billion and the price of the 14 percent stake was to be $493.6 million,"
Purnomo said.

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