MINING
Staking a Claim

The central government decided to acquire a 7-percent stake in Newmont gold mining operations in West Sumbawa.

April 27, 2011

FOR nearly 13 hours from 2pm on Sunday a fortnight ago representatives from Newmont Nusa Tenggara (NNT), foreign shareholders Newmont Mining Corporation and Sumitomo Corporation, and Government Investment Center (PIP) met at Hotel Four Seasons in Jakarta to decide on who should acquire the remaining 7 percent of shares divested by the gold mining company in West Sumbawa.

An agreement was reached in the early hours of Monday: the shares would b

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