Newcrest, Antam complete transaction on share acquisition

By Peni Pedriawan

ASX-listed Newcrest Mining Limited and gold miner PT Antam announced that the two companies has just completed the transaction of a share acquisition.

In the statement to IDX, Antam said that it has completed the acquisition of further 7.5 percent interest in Newcrest's gold mine PT Nusa Halmahera Minerals (PTNHM)in Gosowong.

The company's previous statement said that Newcrest will receive US$160m, consisting of US$130m cash on completion and a further US$30m subject to a further 1 million ounces of additional gold resource being defined by December 2017.

With the agreement, Newcrest will hold 75% of PTNHM and Antam will hold the other 25% interest.

Editing by Dadan Wijaksana