medcom.id, Jakarta: PT Medco Energi International has completed the acquisition of PT Newmont Nusa Tenggara. The Energy and Mineral Resources Ministry has approved the acquisition process.
"The requirements have been fulfilled," said the ministry's director general of mineral and coal Bambang Gatot, here, Friday (8/19/2016).
Bambang mentioned that the executive board of PT Newmont Nusa Tenggara is unchanged.
"The president director is still Rachmat Makassau. The name is still Newmont," he continued.
Previously, Medco has purchased the majority stake at PT Newmont Nusa Tenggara for USD2.6 billion. PT Newmont Nusa Tenggara operates Batu Hijau copper mine in Sumbawa, West Nusa Tenggara.
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