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DENVER—Newmont Mining Corp. says its Indonesian joint venture has agreed to transfer a 14 percent stake to a private company and to a consortium of regional and local Indonesian governments, with proceeds totaling about $494 million.
Denver-based Newmont said Monday that a 14 percent stake in PT Newmont Nusa Tenggara will be transferred to PT Multi Daerah Bersaing, which is made of governments near the company’s Batu Hijau mine, and to the private company PT Multicapital.
Last week, Newmont said a separate 10 percent share was sold to the consortium, with Newmont receiving about $391 million.
The company’s contract to operate in Indonesia includes a requirement for it to divest shares.
