Newmont Exiting Indonesia in $1.3 Billion Sale to Local Firm

Updated on
  • U.S.-based miner says Sumitomo Corp. is also part of the deal
  • Transaction contingent on government and valid export license

Newmont Mining Corp., the largest U.S. bullion producer, agreed to sell its Indonesian copper and gold assets for $1.3 billion to a local consortium, as the country pushes miners to build smelters rather than exporting raw materials.

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