PT Newmont Nusa Tenggara

PT Newmont Nusa Tenggara is a subsidiary company of Newmont Mining Corporation that operates their Batu Hijau mine in Indonesia on the island of Sumbawa.^[1]

Newmont holds a 45% stake in the company while the Sumitomo Corporation from Japan holds an additional 35% and Indonesian company P.T. Pukuafu Indah holds the remaining 20%.^[2] Newmont and Sumitomo are required to divest 51% of their stake in the joint venture Indonesian parties by 2010 by the agreement signed under the Indonesian government of Suharto.^[1] The Indonesian government declined to purchase 10% of the company between 2006 & 2007 because of lack of funds, and Newmont declined to sell to local governments because the governments were backed by unnamed private parties,^[1] and Newmont wished to have more control over potential buyers.^[1] In 2008 Newmont sold a 2% stake in P.T. Newmont to the local governments in Sumbawa.^[2]

Award

The company has got an Aditama Award as the best mining company in terms of mineral mining environment management.^[3]

References

1. ^ ^{a b c d} McDowell, Robin (April 1, 2009). "Newmont Told to Sell Shares in Indonesian Unit". Associated Press Via ABC. http://abcnews.go.com/US/wireStory?id=7229984. Retrieved 2009-04-02. ^{[dead link]}
2. ^ ^{a b} Wright, Tom (April 2, 2009). "Panel Affirms Newmont's Right to Run Indonesian Mine". The Wall Street Journal. http://online.wsj.com/article/SB123859683157278319.html. Retrieved 2009-04-02. 
3. ^ "Newmont Wins Another Award for Best Environmental Management". October 3, 2011. http://english.kompas.com/read/2011/10/03/08325462/Newmont.Wins.Another.Award.for.Best.Environmental.Management.