King & Wood Mallesons and Allen & Overy have advised Australian PE firm EMR Capital and other investors on the sale of Indonesia’s Martabe gold mine for $1.21 billion to private firm Danusa Tambang Nusantara, which was counselled by Linklaters..

The Martabe mine is one of the largest gold mines in the world. Located in the west of Indonesia, in North Sumatra province, it had reserves of 4.7 million ounces of gold and 36 million ounces of silver, and resources of 8.8 million ounces of gold and 72 million ounces of silver as of last year. 

EMR and its partners Farallon Capital and two Indonesian investors bought the mine for $775 million in 2015, reported Reuters. Since then, they have doubled its reserves and cut its production costs, EMR Chief Executive Jason Chang said.

Danusa Tambang Nusantara, founded in 2015, is jointly owned by United Tractors and Pamapersada Nusantara.

The King & Wood Mallesons team was led by partners Mark McNamara and Paul Schroder. 

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com. 

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