Newmont pays US$ 3.45 million in royalty

Copper and gold miner PT Newmont Nusa Tenggara (NNT) has paid royalty for the second quarter, 2007 amounting to US$ 3.45 million or about Rp 31.74 billion to the government of through the ministry of finance.

 

NNT carried out the royalty obligation to comply with the article 13 of the working contract signed by NNT and the government and a letter issued by the directorate general of general mining at the ministry of mining and energy in 2000.

 

NNT’s spokesman Kassan Mulyono said in a statement that the company paid royalty payment for copper US$2.11 million, for gold $1.2 million and for silver $77,523.65.

 

NNT has paid royalty up to $134.43 million to the government since the company shipped its first concentrates in 1999.  (godang)