Ministry still evaluating Newmont?s request for extension of export permit

The Ministry of Energy and Mineral Resources (MEMR) is still in the process of evaluating a request by gold and copper giant PT Newmont Nusa Tenggara (NNT) for a renewal of its current six-month export permit, which is set to expire May 20, Investor Daily reported on Friday.

The paper quoted ministry spokesman Sujatmiko as saying that the MEMR is still evaluating whether the company has met the requirements to get the export permit extension.

One of such requirements is progress in the construction of required domestic copper smelter. NNT has earlier promised to team up with another gold and copper giant PT Freeport Indonesia to develop a US$2.3 billion copper smelter in Gresik, East Java.

NNT must get a letter of recommendation from the MEMR to be able to get export permit from the Ministry of Trade. (*)