Tuesday, June 14, 2011

$600 million credit approved to fund expansion of Indonesia's Batu Hijau mine

PT Newmont Nusa Tenggara has secured a six-year credit of $600 million to fund expansion at the Batu Hijau gold and copper mine in Indonesia's Nusa Tenggara barat province. NNT president director Martiono Hadianto said the loan came from a syndicate of 16 banks led by Bank Mandiri, BNP Paribas and Sumitomo Mitsui Banking Corporation.

Martiono said the credit would ensure that his company would have the financial resources required to complete the sixth phase of development of the Batu Hijau mine and start operating the Elang mine, 60 km from Batu Hijau.

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