JAKARTA - A consortium led by veteran investment banker Agus Projosasmito reportedly is preparing to offer about USD 2 billion to control the operations of Newmont Mining Corp in Indonesia. The investor group plans to bid for 80% stake in PT Newmont Nusa Tenggara fastest mid-April 2016.
The consortium plans to borrow about US $ 1 billion from various banks, including BNP Paribas SA, Malayan Banking Bhd., And Societe Generale SA, and PT Bank Negara Indonesia Tbk and PT Bank Mandiri Tbk. If the plan goes to the purchase of the offer, then the consortium will become the owner of Newmont Nusa Tenggara and PT Medco Energi Internasional led by Arifin.
In addition, as part of the deal, the investor group will offer to buy a 24% of shares in Newmont operations held by PT Bumi Resources Minerals, a company owned by the Bakrie family.
Newmont is exploring to sell its business in Indonesia, this is done after the Indonesian government issued a regulation prohibiting the delivery of raw ore (raw ore) in January 2014 and imposes a progressive tax on exports of concentrate.
Newmont Nusa Tenggara, is the second largest mine in Indonesia after Freeport Indonesia, valued at US $ 2.2 billion or around Rp30 trillion. As for Newmont Nusa Tenggara shares currently owned by 56% by Nusa Tenggara Partnership B.V, 24% by PT Multi Daerah Bersaing, 17.8% by PT Pukuafu Indah and 2.2% owned by PT Indonesia Masbaga.
Throughout 2015, the production of the Batu Hijau gold mine operated by Newmont reached 676.000 ounce. The amount is far above the realization in 2014 that only 76,000 ounces. Contributions gold from the mine to the production of the consolidated whole Newmont worldwide reached 11.85%, up from the year 2014 amounted to 1.45%.
As for the production of copper, throughout 2015, Newmont copper production reached 494 million pounds, far exceeding the realization in 2014 that as many as 156 million pounds.
Exploitation Batu Hijau new projected completion in 2024. It will be followed exploitation Elang Block is said to have the same potential with the Batu Hijau. Medco will develop Newmont though the remaining life of reserves is only about 5 years into the future.
Medco also plans to build the smelter and the power plant to support the operation of Newmont. If there is excess power, electricity from the plant will be channeled to the use of electricity to the residents in the surrounding region. (*)
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