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Antara - Wednesday, 15 DesemberKirim Send via IM Print
Jakarta (ANTARA) - The government is still reviewing the purchase of seven per cent stake divestment of PT Newmont Nusa Tenggara in 2010 worth 271 million U.S. dollars.
"There are still studied," said Finance Minister Agustin Martowardoyo here on Tuesday.
According to him, his side still have the time to assess the feasibility of divesting stock purchase gold and copper mining company located in the NTB ( West Nusa Tenggara ).
According to the contract work, the government has a deadline to decide whether or not to buy Newmont shares until December 18, 2010 or one month from submission to Finance Minister on November 18, 2010.
However, according to Director General of Mineral and Coal Ministry of Energy and Mineral Resources, Bambang Setiawan, the government and Newmont is discussing an extension of the limit of December 18, 2010.
The extension is necessary in a dispute over shares of stock antarpemegang NNT ( East Nusa Tenggara ) namely Nusa Tenggara Partnership NNT as a foreign shareholder, with PT Pukuafu Indah.
"The extension can be done from both sides agreed that the government and Newmont," he said.
If the Finance Minister as representatives of central government, decided not to buy shares of NNT, the next process will be offered to local governments, the private sector prior to the national final.
Bambang said the government respect the ongoing legal case in court in Jakarta.
"Whatever happens in between the shareholders, not our business. We do not want to interfere in judicial affairs," he said.
However, he continued, the government saw the divestment process NNT was appropriate rules and regulations.
NNT is the foreign mining companies from the U.S. copper and gold mine in Batu Hijau, West Sumbawa, West Nusa Tenggara.
With the initial stock composition is as much as 80 percent of shares controlled by foreign NNT through Nusa Tenggara Partnership consisting of Newmont Indonesia Ltd. by 55 percent and 45 percent of the remainder is owned Nusa Tenggara Mining Corp. and Sumitomo.
Medium, the remaining 20 percent stake held by a national company, PT Pukuafu Indah.
According to the contract work, foreign shareholders of NNT required to divest 51 percent of its foreign shares, amounting to 80 percent of it to the national party with the most recent schedule should be March 2010.
As many as 20 percent nationally through Pukuafu already mastered, so the NNT should divest 31 percent of the rest.
Schedule NNT divested 31 percent stake according to the contract work is three per cent in March 2006, seven percent in March 2007, seven percent in March 2008, seven percent in March 2009, and seven percent in March 2010.
PT Multi Region Compete (MDBs) have acquired 24 percent stake divestment and intend to have the remaining seven percent divestment in 2010.
MDB is a joint venture PT Maju Bersama Region (DMB) with PT Multicapital, which is a subsidiary of the Bakrie Group.
Meanwhile, DMB is the three government-owned enterprises, the government of Sumbawa, West Sumbawa Local Government, and Local Government NTB.
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