{"id":1169486,"date":"2020-03-04T16:39:40","date_gmt":"2020-03-04T22:39:40","guid":{"rendered":"https:\/\/www.mining.com\/?p=1016189"},"modified":"2020-03-04T16:39:40","modified_gmt":"2020-03-04T22:39:40","slug":"newcrest-closes-60m-sale-of-gosowong-mine-in-indonesia","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1169486","title":{"rendered":"Newcrest closes $60m sale of Gosowong mine in Indonesia"},"content":{"rendered":"<p>Newcrest (ASX: NCM)\u00a0announced Wednesday the finalized\u00a0sale of 100% of Newcrest Singapore Holdings Pte (NSH) to Indotan Halmahera\u00a0Bangkit\u00a0(Indotan) for A$90m, (about $60m) of which A$60m has already been received and the remaining A$30m is payable in 18 months.\u00a0\u00a0\u00a0<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>NSH owns 75% of PT Nusa Halmahera Minerals (PT NHM), which operates the Gosowong mine in Indonesia. \u00a0\u00a0The move comes\u00a0after Joko Widodo\u2019s government issued\u00a0a\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.mining.com\/indonesia-sets-framework-freeport-yield-control-grasberg-mine\/\" >mandate<\/a>\u00a0in 2018 stating that major mines such as Gosowong or Freeport-McMoRan\u2019s (NYSE:FCX) Grasberg have to be at least 51% owned by Indonesian companies.\u00a0<\/p>\n<p>The&nbsp;Gosowong&nbsp;gold operation is located on Halmahera Island, about 2,450&nbsp;kilometres&nbsp;northeast of the national capital, Jakarta. It is a gold (epithermal) deposit with additional occurrences of silver.&nbsp;<\/p>\n<p>The Gosowong mine produced 190,000 ounces of gold at an all-in sustaining cost (AISC) of $1,099\/oz for the 2019 financial year.&nbsp;<\/p>\n<p>Newcrest expects to recognize a A$44m loss on divestment of its 75% interest after&nbsp;taking into account&nbsp;the sales proceeds less written down value of the assets sold and transaction costs.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The move comes after the government issued a mandate in 2018 stating that major mines have to be at least 51% owned by Indonesian companies.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,369,4,2640],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1169486"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1169486"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1169486\/revisions"}],"predecessor-version":[{"id":1169487,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1169486\/revisions\/1169487"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1169486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1169486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1169486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}