Newmont ships first export

Newmont ships first export

JAKARTA (JP): Copper and gold mining company PT Newmont Nusa
Tenggara said on Friday it had sent its first export of 30,000
tons of copper and gold concentrate from Benete port, Sumbawa,
West Nusa Tenggara to Japan.

Company spokesperson Iradati Fuad said the maiden export
marked the end of the company's commissioning phase and the start
of the operation of its copper and gold mine in Batu Hijau,
Sumbawa, West Nusa Tenggara.

"The shipment process, including the transportation of the
concentrate from the storehouse to the vessels and the
calculation of the concentrate's volume, was carried out on
Tuesday," Iradati was quoted by Antara as saying.

She said aside from Japan, Newmont would also send the
concentrate to smelters in South Korea, Australia and European
countries under long-term contracts.

The Batu Hijau area is believed to contain copper reserves
worth 10.6 million pounds and 11.8 million ounces of gold.

At peak production, the company expects to produce 615 million
pounds of copper and 515,000 ounces of gold per year. (jsk)