Newmont negotiating with Indonesia govt as divestiture deadline looms
October 30, 2009 by goldguru · Leave a Comment
Newmont Mining continues to hold talks with the government of Indonesia, ahead of a November 12 deadline for the sale of a total of 24% of the Batu Hijau copper/gold mine, CEO Richard O’Brien said on Thursday.
The company understands that the local government will buy the initial 10% (the 3% and 7% stakes which were to have been sold in 2006 and 2007 respectively), and a price has been fixed for the transaction.
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