medcom.id, Jakarta: The owner of PT Medco Energy International Tbk (MEDC), Arifin Panigoro, said he has acquired 76 percent of shares in PT Newmont Nusa Tenggara worth USD2.2 billion.
Arifin revealed the purchase when he visit Coordinating Ministry of Maritime Affairs yesterday.
"My visit to Coordinating Ministry of Maritime Affairs intended to report Newmont acquisition because the coordinating ministry supervises the Ministry of Energy and Mineral Resources," said Arifin in written statement, Thursday (11/26/2015).
After the purchase, Arifin said he commits to build smelter that is an obligation of mining company according to 2009 Mining Law.
"Newmont produces 400 thousand ton of copper. While gold production is not much. We will build smelter with 500 thousand ton capacity," he said.
Arifin also promised to develop community in Labuan Bajo, Lombok and Bali as corporate social responsibility (CSR).
"The commitment is to develop Labuan Bajo in East Nusa Tenggara and Lombok in West Nusa Tenggara as top tourism destination through our CSR fund," he concluded.
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