August 9, 2018 / 12:30 AM / 12 days ago

Indonesia's Danusa Tambang Nusantara to buy Martabe gold mine for $1.21 bln - EMR Capital

MELBOURNE, Aug 9 (Reuters) - Private firm Danusa Tambang Nusantara has agreed to buy the Martabe gold mine in Indonesia from EMR Capital and its partners for $1.21 billion, including assumed debt, EMR said on Thursday.

Private equity firm EMR and its partners Farallon Capital and two Indonesian investors bought the mine for an enterprise value of $775 million in 2015 and have since doubled its reserves and cut its production costs, EMR Chief Executive Jason Chang said.

Reporting by Sonali Paul; editing by Richard Pullin

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