Kontan, 12 February 2008
Angered by Newmont [NNT] persistence on divesting 10% of its ownership to local, Gov's official send a letter claiming that NNT default on the issue. According to contract NNT was supposed to divest 7% of its share worth USD 282 Mio on 2007 and 3% of its share worth USD 109 Mio on 2006. Official has stated that NNT has deadline of February 22, 2008.
NNT comment on slow divestiture was because of the price of the share, NNT still no deal of private co's teaming with local authorities having price as negotiated with indonesian gov's official.
:: Suggested Research Link:
Angered by Newmont [NNT] persistence on divesting 10% of its ownership to local, Gov's official send a letter claiming that NNT default on the issue. According to contract NNT was supposed to divest 7% of its share worth USD 282 Mio on 2007 and 3% of its share worth USD 109 Mio on 2006. Official has stated that NNT has deadline of February 22, 2008.
If NNT fail to perform on this issue, Gov's are most likely to cancel its contract with NNT.
NNT comment on slow divestiture was because of the price of the share, NNT still no deal of private co's teaming with local authorities having price as negotiated with indonesian gov's official.
:: Suggested Research Link:
- http://www.newmont.com
- http://www.mineweb.net/mineweb/view/mineweb/en/page33?oid=19257&sn=Detail
- http://en.wikipedia.org/wiki/Newmont_Mining
- http://finance.yahoo.com/q/ks?s=NEM
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3 comments:
I hope this means you'll be posting regularly once again. I've missed you
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