Newmont maintains normal production
Tuesday, September 29 2015 - 02:09 AM WIB
Gold and copper mining firm PT Newmont Nusa Tenggara (NNT), a subsidiary of US-based Newmont Mining Corp, has maintained normal production activity although it has not been able to make export since the expiry of its export permit September 18.
?Our production still run normally,? said Acting President Director of NNT Rachmat Makassau on Monday, adding that the company had already anticipated the possibility of failing to get extension of export permit on time.
Rachmat said NNT continues to make efforts to meet the requirements set by the government to get renewal of its export permit. He said that the company remains committed with an earlier plan to team up with gold and copper giant PT Freeport Indonesia, a subsidiary of US-based Freeport McMoRan Copper & Gold Inc, to develop a copper smelter in Gresik, East Java. Progress in realizing the domestic smelter plan forms part of the requirements set by the government for a renewal of the export permit.
He said that NNT is currently finalizing talks with PT Freeport to extend a MoU signed in March on cooperation in developing the copper smelter. The MoU would expire September 30.
Editing by Reiner Simanjuntak