Newmont fails to get renewal of export permit

By Thomas Sembiring

Gold and copper mining firm PT Newmont Nusa Tenggara (NNT) will be forced to suspend its export of copper concentrates after it fails to get renewal of export permit which expired on Friday.

Director General of Mineral and Coal at the Ministry of Energy and Mineral Resources, Bambang Gatot Ariyono said that the ministry has declined to provide the necessary recommendation for NNT to get renewal of export permit as the company has yet to fulfill the requirements particularly with regards to certainty over its commitment to develop domestic smelter.

?As long as there is no certainty (over the required smelter development), we?ll not provide (the recommendation),? Bambang said.

He said the government is waiting for NNT to realize its promise to develop the required domestic smelter, either via cooperation with PT Freeport Indonesia or other ways.

Editing by Reiner Simanjuntak