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PT Darma Henwa, an Indonesian coal-mining contractor, offered to help fund a district government’s planned purchase of a stake in Newmont Mining Corp.’s Batu Hijau copper and gold mine.
“We have submitted a proposal to West Sumbawa district to finance its acquisition of a 3 percent stake” for as much as $109 million, Devindra Ratzarwin, corporate secretary of Darma Henwa, said this week.
Denver-based Newmont and Sumitomo Metal Mining Co. must cut their combined 80 percent stake in Batu Hijau, after Indonesia capped foreign ownership of natural resources at 49 percent.
