Export permit for Newmont expected this week: Official

By Thomas Sembiring

Gold and copper mining firm PT Newmont Nusa Tenggara (NNT) is expected to obtain the required export permit this week after the company has finally been able to meet a number of requirements set by the Ministry of Energy and Mineral Resources.

?Hopefully, the export permit will be issued this week,? said Director General of Mineral and Coal at the ministry Bambang Gatot Ariyono Wednesday.

He said that NNT has fulfilled the requirements to get export recommendation letter from the ministry, which is required in order for the Ministry of Trade to issue the export permit, including a definitive agreement with another gold and copper giant PT Freeport Indonesia with respect to the planned development of a US$2.3 billion copper smelter in Gresik, East Java.

NNT?s six-month export permit expired on September 18, forcing the company to suspend export. The company must renew the permit for another six months to be able to resume export.

As has been previously reported, NNT has asked for an export quota of 500,000 tons of copper concentrates for the period of another six months.

Editing by Reiner Simanjuntak