Newmont pays $5.7 million royalty in third quarter
Tuesday, November 11 2003 - 02:42 AM WIB
PT Newmont Nusa Tenggara paid royalties amounting to US$5.7 million or about Rp 49 billion to the government during the third quarter of this year from its copper, silver and gold production in its Batu Hijau gold mine in Nusa Tenggara Barat (NTB), Bisnis Indonesia reported on Tuesday.
NNT's public relations officer, Kasan Mulyono, said in Jakarta on Monday that $4.49 million of the total royalties were paid for copper production, $1.22 million for gold production and $30,269.20 for silver production.
The total royalty paid by the company which started its commercial production in the Batu Hijau gold and copper mine in 2000 has so far reached $62.8 million.
NNT's mining cost which was about $0.10 per pound in the third quarter or a 58 percent decline from the same period last year, was the lowest among Newmont’s worldwide subsidiaries. (*)