Big mission have to be done by Indonesian government after international arbitration decided PT. Newmont Nusa Tenggara had neglected in selling his 3% share in 2006 and 7% share in 2007. The decisions also gave Gov to have offering priority for last year 7% share divestment and 51% total share divestment which will be done in 2010. 17% share divestment should be acted 180 days after arbitration decisions given.
The Gov had won the fight, but now real trouble come. Indonesian Gov doesn’t have enough money to buy this shares and now Gov by it biggest state own mining company, ANTAM have to think over to get 680 million US dollar for the share. ANTAM it self also doesn’t have enough resources after share decreasing in the last eight month. In other hand, NNT also have to take back his share after mortgaged all his shares to some foreign banks in 1996.
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