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