Govt offers Newmont to resume negotiation
Tuesday, July 8 2014 - 01:10 AM WIB
The government has asked gold and copper mining firm PT Newmont Nusa Tenggara (NNT) to return to the negotiating table and withdraw its international arbitration, Coordinating Minister for the Economy Chairul Tanjung said Monday.
He warned that pressing ahead with the law suit would force the government to take measures causing losses to the company.
NNT, a subsidiary of US-based Newmont Mining Corp, filed last week an international arbitration against the government in protest of the tighter export requirements that have led the company to suspend operation as it has been unable to make export since January 12 of this year.
The lawsuit was filed as the government was still in negotiation process with the company including renegotiating its mining contract.
Editing by Reiner Simanjuntak