PTNNT?s royalty for Q4 2002 drops to $4.7 million
Thursday, February 20 2003 - 03:02 AM WIB
Copper and gold miner PT Newmont Nusa Tenggara (PTNNT) has paid royalty of US$4.7 million to the Indonesian government for the fourth quarter of 2002, Antara news service reported Thursday.
The $4.7 million was lower than the previous quarter?s royalty paid to the state which reached $5.9 million.
PTNNT said of the $4.7 million, some $4.1 million was for copper; $655,730 for gold; and $8,921 for silver.
Since the first shipment in 1999, PTNNT?s royalty going to the government has totaled around $49.1 million.
The company, which is controlled by U.S. mining giant Newmont Mining Corp, operates a copper and gold mine on Sumbawa Island in West Nusa Tenggara province. (*)