Wednesday, November 11, 2009

Antam withdraws from purchase of Newmont unit

PT Aneka Tambang Tbk withdraw from a group that will buy a stake in an Indonesia unit of Newmont Mining Corp. "The management of Antam had the intention to obtain minimal ownership of 15.5 percent stake in PT Newmont Nusa Tenggara," Antam President Director Alwin Sjah Loebis said in an e-mailed statement.
He added with that business strategy unmet, the company have decided to not participate, in the consortium that will purchase the stake.

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