Newmont Nusa Tenggara pays $4.3 M royalties in Q2 2002
Wednesday, August 7 2002 - 01:30 AM WIB
Copper and gold miner PT Newmont Nusa Tenggara (PTNNT) said on Tuesday it had paid to the government about US$ 4.3 million in royalties for its exports of copper, gold and silver concentrates from this year?s second quarter.
The $4.3 million royalties comprised of $3.86 million for copper concentrates, $ 414,688 for gold concentrates, and $20,750 for silver concentrates.
Since its first shipment in 1999, PTNNT?s royalty payment to the government had reached $ 38.48 million, the company said in a statement.
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)