The Indonesian government has permitted Medco Energi Internasional to acquire a 82.2 per cent stake in Newmont Nusa Tenggara. The Ministry of Energy and Mineral Resources issued a letter of approval on the changes of Newmont shareholders. Through the agreement, the government allows the transfer of ownership, including the 7 per cent that Newmont will release through divestment, which should be offered to the government. All matters related to the divestment will be taken care of by the Ministry of Finance and local governments. In June 2016, Medco Energi had announced the purchase of Newmont shares for $2.6 billion from the Newmont Mining Corporation and Sumitomo Corporation.
