Press Release: PTNNT paid Q1 2004 royalty of Rp35 billion
Wednesday, May 12 2004 - 01:11 AM WIB
West Sumbawa, 11 May 2004: PT Newmont Nusa Tenggara (PTNNT) announced that the company has paid the quarterly royalty payment on the concentrate shipped (from January to March 2004) to the Government of Indonesia. The royalty of US$ 4,037,380.26 or equivalent to Rp35 billion has been deposited to the Finance Minister account no. 508.000.071 in Bank Indonesia, Jakarta.
The following are the details of the 2004 first quarter royalty:
1. Copper ? Cu: US$3,065,360.40;
2. Gold ? Au: US$944,281.59; and
3. Silver ? Ag: US$27,738.27
From the 1st shipment in 1999 to date, PTNNT?s total royalty payments to the Government of Indonesia is US$ 71,524,151.44 (Seventy one million, five hundred and twenty four thousand, one hundred and fifty one US dollars, and forty four cents).
The royalty payment is in accordance with the Contract of Work between PTNNT and the Government of Indonesia (article 13) and the letters of Directorate General of Mines No.310/20.01/DJP/2000 of 24 February 2000. (*)