Press Release: PTNNT paid Q1 2005 royalty of US$ 2.8 million

Benete, May 16, 2005, PT Newmont Nusa Tenggara (PTNNT) on 30 April 2005 made its first quarterly royalty payment on the concentrate shipped from January to March 2005 to the Government of Indonesia.

The royalty of US$ 2,880,380.76 (Two million, eight hundred and eighty thousand, three hundred and eighty US dollars and seventy-six cents) was deposited in the Finance Minister?s account no. 508.000.071 in Bank Indonesia, Jakarta.

This payment breaks down as follows:
Copper ? Cu: US$ 2,148,797.22
Gold ? Au: US$707,754.83
Silver ? Ag: US$23,828.71
Total: US$ 2,880,380.76

PTNNT?s royalty payments are made in accordance with Article 13 of the Contract of Work between PTNNT and the Government of Indonesia and instruction letter No.310/20.01/DJP/2000 of 24 February 2000 from the Directorate General of Mines.

PTNNT began paying Royalties after its first concentrate shipment in 1999 and has paid a grand total of US$ 93,702,279.67 (Ninety-three million, seven hundred and two thousand, two hundred seventy nine US dollars and sixty-seven cents) to date. (end of release)