Newmont pays royalty of US$ 7.24 million in Q3

Gold and copper producer PT Newmont Nusa Tenggara (NNT) has paid royalty on the sale of concentrates worth US$ 7.24 million or around Rp 65.8 billion to the government for the July-September period.

NNT?s spokesman Kasan Mulyono said in a press release that the company transferred the royalty payment for the third quarter of 2007 to the Finance Ministry?s bank account.

The royalty payment covers copper valued at $4.25 million, gold at $2.85 million and silver at $135.81.

Up to now, NNT has paid $141.67 million in royalty since the company shipped its first concentrates in 1999. (*)