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View all search resultsNewmont welcomes Medco, says no lay-offs to follow
Newmont Nusa Tenggara (NNT) has confirmed the acquisition of its parent company, Amman Mineral Internasional (AMI), by Medco Energi Internasional but insists that NTT will continue to maintain operational and labor status over its Batu Hijau mine.
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The Batu Hijau mine in Batu Hijau, West Sumbawa, West Nusa Tenggara. (Tempo/Eko Siswono Toyudho)
N
ewmont Nusa Tenggara (NNT) confirmed has confirmed the acquisition of its parent company, Amman Mineral Internasional (AMI), by Medco Energi Internasional but insists that NTT will continue to maintain operational and labor status over its Batu Hijau mine.
Medco announced on Thursday that it has acquired AMI for US$2.6 billion. AMI currently controls 82.2 percent shares in NTT, the second biggest gold producer in the country after Freeport Indonesia.
NNT president director Rachmat Makkasau said all employees and NNT business partners involved with the Batu Hijau mine welcomed and appreciated AMI's commitment to maintain the high security standards in regard to mining operation, environmental management and social responsibility.
"AMI intends to maintain the status, rights, and benefit of the current employees," he said in a statement on Thursday.
Through good sustainable performance, he continued, NNT will continue to contribute to long-term economic development in West Sumbawa, West Nusa Tenggara, and to provide revenue to the local administration through tax payments.
AMI recently purchased Newmont from Newmont Mining Corporation and Sumitomo Corporation. Medco Energi Internasional then acquired AMI, taking control of the Batu Hijau mine. (ags)
