Indonesia's government and Newmont Mining Corp. (NEM) have agreed that 14% of Newmont's local unit which it is scheduled to divest is worth $493 million, Energy and Mineral Resources Minister Purnomo Yusgiantoro told reporters Thursday.

Purnomo added that the government is waiting for permission from the finance ministry on whether it can buy the stake in the unit, PT Newmont Nusa Tenggara, or PTNNT.

The 14% comprises stakes in PTNNT due to be divested to local buyers in 2008 and this year. The sale has so far been delayed due to glitches in negotiations. The central government has first refusal over the stakes but may allow local companies to purchase them.

-By Deden Sudrajat, contributing to Dow Jones Newswires; 62 21 3983 1277; Reuben.Carder@dowjones.com