Bumi Resources raises stake in Multicapital: Report

IDX-listed mining giant PT Bumi Resources has infused additional capital in unlisted PT Multicapital, raising its stake in the company to 99% from 5% previously, Bumi Spokesman Dileep Srivastava said Friday as quoted by Dow Jones.

Bumi infused additional capital into Multicapital to help finance Multicapital's recent purchase of a stake in Newmont Mining Corp.'s (NEM) Indonesian unit, Srivastava told Dow Jones Newswires.

Multicapital, together with local governments, had bought a 10% stake in PT Newmont Nusa Tenggara for $391 million. (*)