Lombok administration builds pier for Newmont

The local government of the East Lombok regency, West Nusa Tenggara will soon build a new pier near the Labuhan Kayangan port at the Benete bay, Sumbawa in cooperation with PT Newmont Nusa Tenggara.

Akhmad Moegini, the spokesman for the East Lombok administration, said the new pier would be used by Newmont under a 12-year leasing contract, with an initial renting fee of Rp 27 million a month.

Newmont, under the cooperation agreement, agreed to provide a loan of Rp 529 million to finance the pier construction, which is made outside the regency?s annual budget plan.

The loan will be paid with the rental fees received from Newmont. ?But we hope, all the money could be repaid through the regency?s budget next year so that the rent could be received in full,? he said.

Newmont, a subsidiary of the United States-based Newmont Corporation, operates major gold and copper mining in Lombok. (*)