July 12, 2014 7:20 PM ET

Metals and Mining

Company Overview of PT Newmont Nusa Tenggara

Company Overview

PT Newmont Nusa Tenggara operates an open-pit copper and gold mine in the south west region of the Island of Sumbawa, Indonesia. It explores, mines, and processes copper, gold, and silver ores. The company was founded in 1999 and is based in Lombok, Indonesia.PT Newmont Nusa Tenggara operates as a subsidiary of Nusa Tenggara Partnership B.V.

Jl. Sriwijaya No. 258

Mataram

Lombok,  83126

Indonesia

Founded in 1999

Phone:

62 37 263 5318

Fax:

62 37 263 5318

Key Executives for PT Newmont Nusa Tenggara

President Director
President Commissioner and Senior Vice President of Operations
Age: 62
General Manager of Mining
General Manager of CSR & Govrels
Compensation as of Fiscal Year 2014.

PT Newmont Nusa Tenggara Key Developments

PT Newmont Nusa Tenggara Reports Unaudited Earnings Results for the Six Months Ended June 30, 2013

PT Newmont Nusa Tenggara reported unaudited earnings results for the six months ended June 30, 2013. For the period, the company's revenues were $194,617,000 compared to $311,632,000 a year ago. Net loss was $15,723,000 compared to net income of $17,371,000 a year ago.

Update On NTT IPO

Martiono Hadianto, President Director of PT Newmont Nusa Tenggara (NTT), said the company’s plan to list its shares on the Indonesia Stock Exchange would be carried out after the miner completes divestment of a 7% stake to a national entity. NTT plans to raise more than $500 million. Martiono said proceeds from the sale of the 10% stake, in new shares, would be used to finance NNT’s expansion at its Batu Hijau mine. The company initially planned the IPO for 2011.

Updates On Stake Acquisition In Newmont Nusa Tenggara

Constitutional Court of Indonesia ruled that government can't go ahead buy a 7% stake in PT Newmont Nusa Tenggara from Newmont Mining Corp. without first securing parliamentary approval. Chief of Court, Mahfud MD, said, "The government has a right to buy the stake, [but only] with approval from the parliament." Finance Minister Agus Martowardojo said the government would respect the court's decision.

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