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T Aneka Tambang (Antam) announced on Friday that it has completed an acquisition of a 7.5 percent stake in PT Nusa Halmahera Minerals, holder of the for a gold mine in Gosowong, North Maluku.

With the acquisition of the stake from Newcrest Mining Limited, Antam’s ownership has risen to 25 percent of the company from 17.5.

“Newcrest Mining Limited and Antam are pleased to confirm that, following receipt of regulatory approval, the parties have completed the sale,” Antam said in a written statement.

Antam and Newcrest signed an agreement about the acquisition in November.

Previously, Antam indicated that the acquisition would cost US$160 million: $130 million in cash, with the remaining $30 million to be paid if an additional 1 million ounces of gold is found by December 2017.

Antam has said that it would use internal cash to support the acquisition.