Newmont reports higher gold, copper sales from Sumbawa mine
Thursday, July 23 2009 - 11:03 PM WIB
US top gold producer Newmont Mining Corp reported on Thursday that gold sales from its Batu Hijau mine in Sumbawa Island, West Nusa Tenggara during the first half of 2009 reached 173,000 ounces, higher than last year?s same quarter sales of 158,000 ounces.
During the period, Batu Hijau also sold 201million pounds of copper versus 157 million pounds of copper same period last year.
Newmont currently has 45 percent equity in PT. Newmont Nusa Tenggara (NNT), which run the giant mining complex. Newmont and its partner Japanese firm Sumitomo Corp. are required to divest 31 percent of their combined 80 percent shares in NNT to Indonesian-owned entity this year.(alex)