Newmont unit offers more shares to Indonesia

JAKARTA, April 6 (Reuters) - PT Newmont Nusa Tenggara (NNT), a Indonesian unit of Newmont Mining Corp (NEM.N) and Sumitomo Corp (8053.T), has offered the Indonesian government a 7 percent stake for $444 million as part of its share divestment programme, an official said on Tuesday.

PT NNT previously sold a 24 percent stake to local Indonesian firms in line with its contract contract under which it must sell 51 percent of shares in the unit to local investors.

Bambang Setiawan, director general of coal, minerals and geothermal at Indonesia's mines and energy ministry, told reporters the government would set up a team to assess the price Newmont had asked for.

"If we agree with the value of the shares then we will submit to the finance minister to decide who is going to buy the shares. The shares must be bought by local firms," he added.

PT NNT has estimated the mine would produce 500 million pounds of copper concentrate and 525,000 ounces of gold in 2009. (Reporting by Muklis Ali; Editing by Ed Davies)