Medco Officially Acquires Newmont Nusa Tenggara

Annisa ayu artanti    •    30 Juni 2016 23:03 WIB
Medco Officially Acquires Newmont Nusa Tenggara
Batu Hijau mine (Photo:Antara), Jakarta: Medco Energi International has agreed to buy Amman Mineral International (AMI) which controls 82.2 percent shares in Newmon Nusa Tenggara (NNT) for USD2.6 billion. 

AMI recently purchased NNT from Newmont Mining Corporation and Sumitomo Corporation.

"The acquisition will strengthen Medco Energi as Indonesian top energy and mining company," said Medco Energi President Director Hilmi Panigoro in a press release, Jakarta, Thursday (6/30/2016).

Medco Energi cooperated with AP Investment for the transaction. Bank Mandiri, Bank Negara Indonesia and Bank Rakyat Indonesia provided financial supports.

"Hopefully, (Indonesian companies) continue to have strategic transactions in the future," Hilmi continued.

NNT operates Batu Hijau mine in Sumbawa, West Nusa Tenggara which produces copper and gold.