VIVAnews - The Indonesian government won suit against PT Newmont Nusa Tenggara on the International Court of Arbitration (ICC).
State prosecutor Joseph Suandi Sabda said that in line with the contract, Newmon must divest 17 percent of its shares to Indonesia within 180 days since the verdict is issued.
"If Newmont has to to divest its shares in 180 days, the government can annul its production sharing contract," he said on Tuesday, March 31.
According to him, the verdict obligated Newmont Nusa Tenggara settle its shares pledged in the Bank of New York.
However, he went on to say that the ICC did not fully approve all suit that the Indonesian government filed.
"It was viewed that the Indonesian government requested too serious a termination," he said.
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Translated by: Bonardo Maulana Wahono
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