DENVER, July 1 (Bernama-BUSINESS WIRE) -- Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) has entered into a binding share sale and purchase agreement with PT Amman Mineral Internasional (PT AMI) to sell its interests in PT Newmont Nusa Tenggara (PTNNT), which operates the Batu Hijau copper and gold mine in Indonesia.
The total consideration is $1.3 billion for Newmont’s 48.5 percent economic interest in PTNNT. This amount is comprised of cash proceeds of $920 million expected to be paid at closing and contingent payments of $403 million tied to metal price upside and development of Elang. Nusa Tenggara Mining Corporation, majority owned by Sumitomo Corporation, has also agreed to sell its ownership stake to PT AMI.
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Friday 1 July 2016
NEWMONT ENTERS AGREEMENT TO SELL INTEREST IN INDONESIAN ASSETS
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