Newmont pays $7.7 million royalty

Mining company PT Newmont Nusa Tenggara (NNT) has paid royalty to the government for the third quarter of 2005 for the shipment of concentrate during July to September period, the Investor Daily Indonesia newspaper reported in its Wednesday.

A total of US$7.7 million or around Rp 77 billion was paid on Oct. 31. The amount was directly credited into the Ministry of Finance’s account number 5008.000 071 at the Bank Indonesia in Jakarta.

PT NNT began paying its royalty since its first shipment of concentrate was made in 1999 and the total amount paid so far was $106.6 million.(*)