"I should like to affirm that the government remains interested in buying a Newmont stake. However, it still needs to ponder several options," Agus said here on Thursday.
He added the plan to acquire at Newmont stake remained on track although the government had not yet received the latest report on Newmont`s plan for divestment. The government`s entry into the company would boost the added values of the company.
"We`ll make sure that all the principles of good corporate governance and healthy financial principles will remain there at Newmont. If Newmont plans to be a public company, then we?ll endeavor on that," said Minister Martowardoyo.
Martowardoyo disclosed that the aspects the government still working on are the legality, the process and the commercial aspects.
Responding to a question whether his statement meant that the government was asking for an extension time schedule for the buying option, Minister Martowardoyo confirmed it to be.
PT Newmont Nusa Tenggara is a subsidiary company of Newmont Mining Corporation that operates their Batu Hijau mine in Indonesia on the island of Sumbawa.
It holds a 45 percent stake in the company while the Sumitomo Corporation of Japan holds an additional 35 percent while an Indonesian company P.T. Pukuafu Indah holds the remaining 20 percent.
Newmont and Sumitomo are required by the agreement signed under the Indonesian government of Suharto to divest 51 percent of their stake in the joint venture Indonesian parties by 2010.
The Indonesian government declined to purchase 10 percent of the company between 2006 and 2007 because of lack of funds, and Newmont in 2008 sold a 2.0 percent stake to the local government in Sumbawa.
(Uu.KR-VFT/HAJM/F001)
Editor: Priyambodo RH
Copyright © ANTARA 2011
