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Newcrest sells 7.5% stake in Indonesian gold mine to PT Antam

BrightWire News | December 2, 2012 | 1:10 am Precious Metals Asia Gold

Newcrest Mining today announced the sale of its 7.5% stake in Indonesia’s Gosowong gold mine to PT Antam for USD 160 million.

Antam will pay Newcrest a further USD 30 million, subject to an additional one million ounces of gold being defined at the site by December 2017.

The agreement remains subject to regulatory approvals in Indonesia.

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