The Seven Percent Stake Saga
Tuesday, August 7, 2012
After losing at the Constitutional Court, the Indonesian government still insists on purchasing the seven percent stakes in Newmont Nusa Tenggara. The battle goes on.
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The Constitutional Court ruling last week was a telling blow for Finance Minister Agus Martowardojo. Five of the court's Justices in the panel of nine voted to halt the government's plan to buy the seven percent stake in Newmont Nusa Tenggara (NNT). Newmont runs Indonesia's second largest copper and gold mine in West Nusa Tenggara. The Court ruled that the government must seek approval from the House of Representatives (DPR) before such an acquisit
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