ID :
55952
Fri, 04/17/2009 - 11:08
Auther :
Shortlink :
https://www.oananews.org//node/55952
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GOVT CONSIDERING NEWMONT SHARE PURCHASE
Jakarta, April 16 (ANTARA) - The Indonesian government is studying the possibility to buy shares of PT Newmont Nusa Tenggara in view of its strategic value and national energy as well as mining need.
Acting coordinating minister for the economy/finance minister Sri Mulyani Indrawati said here on Thursday the Indonesian government responded to the result of international arbitration that fulfilled the country's claim and obliged Newmont to divest 17 percent of its shares to the Indonesian government.
"The result of arbitration compels divestment of Newmont shares. However all aspects must be seen including benefit and profit for the country and economy and also its continuity," she said.
She said the government had not yet made any decision because everything was still under process.
State enterprise minister Sofyan Djalil meanwhile said his office continued preparing itself in case the government would give a priority to state-owned companies to buy the Newmont shares.
He said he had sent a letter to the ministers of finance and also energy and mineral resources to ask them to nominate state-owned companies as buyers of the Newmont shares if the government would not exercise his right to buy them.
"No principle approval has been made. Immediately after the government permit is issued we will realize the purchase," he said.
Discourse on a state-owned companies' plan to buy Newmont shares continued and on other occasion minister Sofyan said that he had been ready to seek funding for the purchase from domestic banks.
His office has even studied the possibility of setting up a consortium of state-owned companies involving regional administrations with regard to the share purchase.
"It is not impossible the funding comes from domestic banks so long as the purchase is worth the funding and there is a profit return from Newmont," he said.
Sofyan said he could not give a greater response to the Newmont divestment issue. "No negotiations have been made while the price is also not yet known," he said.
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Acting coordinating minister for the economy/finance minister Sri Mulyani Indrawati said here on Thursday the Indonesian government responded to the result of international arbitration that fulfilled the country's claim and obliged Newmont to divest 17 percent of its shares to the Indonesian government.
"The result of arbitration compels divestment of Newmont shares. However all aspects must be seen including benefit and profit for the country and economy and also its continuity," she said.
She said the government had not yet made any decision because everything was still under process.
State enterprise minister Sofyan Djalil meanwhile said his office continued preparing itself in case the government would give a priority to state-owned companies to buy the Newmont shares.
He said he had sent a letter to the ministers of finance and also energy and mineral resources to ask them to nominate state-owned companies as buyers of the Newmont shares if the government would not exercise his right to buy them.
"No principle approval has been made. Immediately after the government permit is issued we will realize the purchase," he said.
Discourse on a state-owned companies' plan to buy Newmont shares continued and on other occasion minister Sofyan said that he had been ready to seek funding for the purchase from domestic banks.
His office has even studied the possibility of setting up a consortium of state-owned companies involving regional administrations with regard to the share purchase.
"It is not impossible the funding comes from domestic banks so long as the purchase is worth the funding and there is a profit return from Newmont," he said.
Sofyan said he could not give a greater response to the Newmont divestment issue. "No negotiations have been made while the price is also not yet known," he said.
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