Newmont Nusa Tenggara pays $3.2 million in Q1 royalty
Wednesday, May 7 2003 - 02:51 AM WIB
Copper and gold miner PT Newmont Nusa Tenggara said Tuesday it had paid to the government about US$3.2 million in royalties for its exports in the first quarter of 2003.
The figure was higher from last year?s corresponding quarter of $2.8 million.
The company said the royalty payments in this quarter comprised of $2.6 million for copper concentrates, $540,885.24 for gold concentrates, and $16,737.66 for silver concentrates.
Since its first export shipment in 1999, the company had paid a total of $52.361 million in royalty to the government.
Newmont Nusa Tenggara operates copper and gold mining in Sumbawa Island, West Nusa Tenggara province. The company is 56.25 percent owned by U.S. mining giant Newmont Mining Corp. (robert)