Australian business sells Indonesian gold mine

Photo: Newcrest Mining

Australia’s Newcrest Mining has announced it finalised the sale of a 100% stake in its subsidiary, Newcrest Singapore Holdings Pte Ltd, to Indonesia’s Indotan Halmahera Bangkit for some A$90 million (US$59 million), of which A$60 million has already been received. The remaining one-third of the amount is to be paid to Newcrest Mining over a period of 18 months, the company said in a statement.


"NSH owns 75% of PT Nusa Halmahera Minerals (PT NHM), which oper-ates the Gosowong mine in Indonesia," the Australian miner said.


Based in Melbourne, Australia, Newcrest Mining is listed on the Australian Securities Exchange (ASX). The business says its operating mines are located in Australia, Canada and Papua New Guinea.