Newmont pays $23.3m in royalties

Newmont pays $23.3m in royalties

JAKARTA: Copper and gold miner PT Newmont Nusa Tenggara has paid
a total of US$23.3 million in royalties on the concentrate
exported during last year to the government, the company said on
Thursday.

The payment for the fourth quarter of last year of $5.89
million was completed on Jan. 31, which included $4.32 million
for copper, $1.53 million for gold, and the rest for silver.

The company, a local subsidiary of the giant U.S.-based
Newmont Mining Corporation, began paying royalties to the
government in 1999, when it first sent concentrate shipments. It
has paid a total of $90.82 million.

The firm operates copper and gold mines in the Batu Hijau area
in Sumbawa, West Nusa Tenggara. -- JP