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Byline: Hans David Tampubolon, The Jakarta Post, Jakarta
The Constitutional Court ruled against the Finance Ministry on Tuesday, effectively barring the government from acquiring shares in PT Newmont Nusa Tenggara (NNT) without approval from the House of Representatives.
The ministry's appeal, which was rejected by the court in a 5-4 decision, sought to overturn binding legal recommendations from the Supreme Audit Agency (BPK) after it found improprieties in the government's acquisition of a 7 percent stake in the nation's second biggest copper and gold producer.
The BPK concluded that the acquisition of the stake for US$246.8 million by the State Investment Agency (PIP) in May 2011 required approval from the House, as …