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PT Newmont Nusa Tenggara, the Indonesian unit of Denver based Newmont Mining, denied a Bisnis Indonesia report saying the copper- and gold-mining company is considering an initial public offering in Jakarta.
The information is “incorrect,” the company said in a statement. Bisnis, citing people it didn’t identify, reported Monday that Newmont Nusa Tenggara plans to sell as much as a 49 percent stake in an initial share sale. The move would violate Newmont’s 1986 mining contract, and the miner should drop the plan, Indonesia’s Investment Coordinating Board said Monday.
