Press Release: PTNNT pays royalty
Saturday, August 7 2004 - 01:34 AM WIB
PT Newmont Nusa Tenggara (PTNNT) on July 30, 2004 made its second quarterly royalty payment on the concentrate shipped from April to June 2004 to the Government of Indonesia.
The royalty of US$ 6,257,072.39 (six million, two hundred and fifty-seven thousand, seventy-two US dollars and thirty-nine 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$ 4,739,380.69; Gold – Au US$ 1,480,156.71; Silver – Ag US$ 37,534.99; Total US$ 6,257,072.39
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$ 77,781,223.83 (Seventy-seven million, seven hundred eighty-one thousand, two hundred twenty-three US dollars and eighty-three cents) to date. (*)