Last Updated :
26 June 2009 at 20:30 IST
Amstelco Plc. is looking to buy 20% PTNNT stake
Commodity Online U.K. based Amstelco Plc. is currently willing to subscribe for a 20% stake valued at US$1.5 billion in Indonesian copper miner PT Newmont Nusa Tenggara (PTNNT) currently owned by PT Pukuafu Indah.
Amstelco Plc. is an investing company incorporated in Jersey which has been established to identify, invest in or acquire assets. PTNNT is a subsidiary of US mining major Newmont Mining Corp. (NYSE:NEM) and it has large gold and copper mines in West Nusatenggara (Indonesia).
Enter Currency Trading Contest now. Win $ 25,000 Amstelco is planning to purchase the stake from Pukuafu if it fails to co-ordinate with the West Nusatenggara government to buy 10% of PTNNT. Analysts estimate an average target price of 46 for the stock and consider it to be ‘Overweight’.
NEM gained 2.52% at New York Stock Exchange on Thursday and closed at 43.08. It touched a 52-week high of 53.77 and low of 21.17.
NCDEX SOYBEANINDOREJUN12 20 June 2012
contract was trading at
Rs 0 . What's your view on it?
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