A consortium led by PT Bumi Resources (BUMI.JK) signed an agreement late Monday to buy additional 14% stake in gold miner PT Newmont Nusa Tenggara, or PTNNT, for $493.64 million.

Heriyadi Rahmat, a director of the consortium called PT Multi Daerah Maju Bersaing, told reporters that the consortium is also interested in buying an additional 7% stake in the unit of the Denver-based Newmont Mining Corp. (NEM), which has to be offered to local investors next year.

Monday's deal came after the Multi Daerah consortium last week concluded a purchase of a 10% stake in PTNNT.

-By Deden Sudrajat, contributing to Dow Jones Newswires; 62-21 39831277; I-Made.Sentana@dowjones.com