Press Release: PTNNT paid Q4 2003 royalty of US$ 4.7 million
Friday, February 13 2004 - 06:04 AM WIB
Benete, February 2004 ? As part of it?s obligations, PT Newmont Nusa Tenggara (PTNNT) has paid the quarterly royalty payment on the concentrate shipped from October to December 2003 to the Government of Indonesia. The royalty of US$ 4.731.775,40 (Four million, seven hundred and thirty one thousand, and seven hundred and seventy five US dollars, and forty cents) has been deposited to the Finance Minister account no. 508.000.071 in Bank Indonesia, Jakarta.
The following are the details of the 2003 fourth quarter royalty:
1. Copper ? Cu US$ 3,732,082.21
2. Gold ? Au US$ 974,395.43
3. Silver ? Ag US$ 25,297.76
Total: US$ 4,731,775.40
From the 1st shipment in 1999 to date, PT NNT?s total royalty payments to the Government of Indonesia is US$ 67,486,771.18 (Sixty seven million, four hundred and eighty six thousand, seven hundred and seventy one US dollars, and eighteen 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. (end of release)
Source: PT Newmont Nusa Tenggara