Newmont Nusa Tenggara pays $2.8 M royalties in Q1 2002
Saturday, June 22 2002 - 01:59 AM WIB
Copper and gold miner PT Newmont Nusa Tenggara (PTNNT) said on Friday it had paid to the government about US$ 2.8 million in royalties for its exports of copper, gold and silver concentrates from this year?s first quarter.
The $2.8 million royalties comprised of $2.55 million for copper concentrates, $ 227,341.49 for gold concentrates, and $13,765.74 for silver concentrates.
Since two years ago, PTNNT?s royalty payment to the government had reached $ 34,19 million, the company said.
PTNNT operates copper and gold mining in Sumbawa Island, West Nusa Tenggara province.
US mining giant Newmont Mining Corp controls 56.25 percent interest in PTNNT, while Sumitomo Corporation of Japan holds 35 percent and an Indonesian company, PT Pukuafu Indah holds the remaining 20 percent. (robert)