Newmont pays $4.5m Q1 royalty to government
Tuesday, May 13 2008 - 06:23 AM WIB
Copper and gold miner PT Newmont Nusa Tenggara (NNT) paid a total of US$4.58 million in royalty to the government in the first quarter of 2008.
The royalty payment, which was deposited into the Finance Minister?s account, included $2.22 million for copper, for $2.22 million for gold and $16,840 for silver, the company said in a statement on Tuesday.
The royalty payment is made in accordance with Article 13 of the Contract of Work between NNT and the government.
Since it started paying royalties to the government in 1999, the company has paid a total of $150.3 million in royalties, it added. (denny)