The seven percent purchase of Newmont shares was the last step of divestment obligation to Newmont`s shares in accordance with Article 24 of the work contract 1986, said Hadiyanto, the state assets Director General of the Finance Ministry in a press release here on Sunday.
The 24 percent divestment of Newmont`s shares from 1996 to 2009 period was held in 2009, in which its purchase was made ​​by the regional government through PT Multi Daerah Bersaing, a joint venture between PT Daerah Maju Bersaing, belonging to NTB provincial administration, Sumbawa Barat district and Sumbawa district administration.
Hadiyanto said, PIP was in process of finalizing the terms and conditions of the shares purchase with Newmont that includes, among others, payments, rights and obligations of the parties, and other matters which become the technical execution of share acquisition.
In effort to confirm the implementation of the purchase of divested shares by PIP as set by the Finance Minister as the government representative, the Finance Minister`s letter has been submitted to the President Director of Newmont on April 14, 2011, Hadiyanto added.(*)
Editor: Aditia Maruli Radja
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