Indonesia plans to buy 7 pct Newmont unit stake

* Stake in Sumbawa gold mine operator worth about $272 mln

* Could buy stake through state-investment agency or state-owned firms 

Indonesia plans to buy a 7 percent stake in Newmont Mining Corp's Indonesia unit, worth around $272 million, Finance Minister Agus Martowardojo on Friday. 

Newmont and Japan's Sumitomo Corp are the majority owners of PT Newmont Nusa Tengara (NNT) which runs the Batu Hijau copper and gold mine in West Nusa Tenggara province. Last year, they were ordered to reduce their holding in the unit to less than 50 percent by selling to local investors. 

The central government had previously not taken part in sales of stakes totalling 24 percent of the mining unit. 

"Government has delivered its intention to take the right," Martowardojo said. "At the moment it will be government, whether it will be state investment agency or state owned firms we will discuss it later." 

The government is going to finalise the plans in the form of presidential decree this year, he added. 

The previous stakes had been sold to PT Multi Daerah Bersaing -- a consortium of the governments of West Nusa Tenggara province, West Sumbawa regency and Sumbawa regency where the mine is located -- and PT Multicapital, a unit of Bumi Resources Minerals. PT Pukuafu Indah, a local NNT shareholder, owns a 20 percent stake. Source: Reuters