Newmont mining gives govt US$31.39m

Newmont mining gives govt US$31.39m

JAKARTA: Copper and gold mining company PT Newmont Nusa Tenggara (NNT) in Batu Hijau, Sumbawa, West Nusa Tenggara paid a total US$ 31.39 million in royalties to the Indonesian government from its first shipment in 1999 to fourth quarter of 2001, a spokesman said.

Anton Susanto, NNT's public relations official was quoted by Antara as saying in a statement that the royalties were paid to the government through the Finance Ministry's accounts at the Central Bank.

For the fourth quarter in 2001, NNT paid $3.8 million.

Royalty payment was stipulated in the terms of the contract between NNT and the government.

"NNT is committed to actively participating in developing Indonesia particularly, West Nusa Tenggara," Anton said. -- JP