DJ Bumi Consortium To Buy Additional 14% Stake In Newmont's Unit

Posted on: Mon, 23 Nov 2009 19:42:00 EST


Symbols: NEM
JAKARTA, Nov 23, 2009 (Dow Jones Commodities News via Comtex) --
NEM | Quote | Chart | News | PowerRating -- A consortium led by PT Bumi Resources (BUMI.JK) signed an agreement late Monday to buy additional 14% stake in gold miner PT Newmont Nusa Tenggara, or PTNNT, for $493.64 million.

Heriyadi Rahmat, a director of the consortium called PT Multi Daerah Maju Bersaing, told reporters that the consortium is also interested in buying an additional 7% stake in the unit of the Denver-based Newmont Mining Corp. (NEM), which has to be offered to local investors next year.

Monday's deal came after the Multi Daerah consortium last week concluded a purchase of a 10% stake in PTNNT.

-By Deden Sudrajat, contributing to Dow Jones Newswires; 62-21 39831277; I-Made.Sentana@dowjones.com

(END) Dow Jones Newswires

11-23-09 1942ET

For full details on Newmont Mining Corp (NEM) NEM. Newmont Mining Corp (NEM) has Short Term PowerRatings at TradingMarkets. Details on Newmont Mining Corp (NEM) Short Term PowerRatings is available at This Link.

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