Getting your player ready...
JAKARTA, Indonesia — International arbitrators have ordered U.S. gold-mining giant Newmont Mining Corp. and its foreign partner to sell a 17 percent stake in an Indonesian subsidiary within 180 days.
The decision, announced Wednesday, comes in a three-year dispute between the government and the subsidiary over how the mining company should divest shares as required under its contract to operate in Indonesia.
The government last year threatened to terminate the contract of the subsidiary, Newmont Nusa Tenggara, after accusing it of failing to meet its divestment obligations. Newmont denied wrongdoing, saying it just wanted a greater say in the sale.
