NNT may increase output next year
Friday, December 27 2013 - 03:27 AM WIB
Gold and copper mining firm PT Newmont Nusa Tenggara (PT NNT) said it would increase output next year on the condition that the government relaxes the planned mineral ores export ban policy.
?Our production will rise in 2014 from that in 2013, ?Sarapuddin Jarot, Manager for Social Responsibility of the company told Petromindo.com Thursday, hoping that the government would still allow the company to continue export of ores next year.
He, however, did not disclose the production figure for next year.
The government, as mandated by the 2009 Mining Law, plans to start banning the export of mineral ores on January 12, 2014, forcing miners or investors to build domestic smelters in a bid to generate greater value added from the mining commodities.
Minister of Energy and Mineral Resources Jero Wacik, however, said earlier this week that the government may consider relaxing the export ban policy as requested by the miners. Other officials said that miners which have shown commitment to develop domestic smelters will be allowed to keep exporting ores next year until the planned smelters have been completed.
NNT has signed MoUs with three companies to build smelters, which if realized may be completed in 2017. The company has previously warned it may have to suspend production if the government declines to relax the export ban policy.
Editing by Reiner Simanjuntak