Newmont, Freeport sign new MoU on smelter project
Thursday, October 1 2015 - 02:40 AM WIB
Gold and copper mining firms PT Newmont Nusa Tenggara (NNT) and PT Freeport Indonesia (PTFI) have signed a new and more detailed memorandum of understanding (MoU) on planned cooperation to develop a copper cathode smelter in Gresik, East Java, Bisnis Indonesia reported on Thursday.
?NNT and PTFI have signed (a new) MoU which is more detailed than the previous one,? said NNT spokesperson Rubi Purnomo, but did not disclose the details of the MoU.
The two companies first signed a MoU on cooperation in the development of the planned smelter at the end of March, which expired September 30.
Having a more detailed MoU with PTFI forms part of the requirements that must be met by the company to be able to get renewal of export permit from the government, which has been pushing miners to develop domestic smelters in a bid to generate greater value added for the country. The company?s six-month export permit expired on September 22. (*)