TEMPO.CO, Jakarta - Publicly listed oil and gas company PT Medco Energi Internasional Tbk. (MEDC), has finally concluded the acquisition of PT Newmont Nusa Tenggara stake worth US$2.6 billion, or equal to Rp33.8 trillion.
Medco president director Hilmi Panigoro announced that the company has completed the acquisition of 50% interest in PT Amman Mineral Investama, who owns 82.2% interest in PT Newmont Nusa Tenggara (NNT).
PT Newmont Nusa Tenggara operates the world-class Batu Hijau copper and gold deposits in the Sumbawa Islands, Indonesia, that has access to exploration prospects and large deposits in Elang, all of which are included in its contract of work.
“In 2015, Batu Hijau’s copper production hit 240mn lbs and its gold production was 0.3mn oz. The transaction has instantly gave an added value [to the company]. It is also a milestone for the company and all stakeholders, including the Indonesian government,” Hilmi said.
Medco Energi president commissioner Muhammad Lutfi stresses that the transaction has solidify the company’s vision, mission and values.
The company aspires to become one of the major contributors to national economic development, lead in global competition, promote development and innovation, as well as ensure sustainability in every aspect of the company’s activity.
BISNIS.COM