Royalties from Newmont distributed to small-scale firms
Thursday, October 26 2000 - 04:00 AM WIB
The municipal administration of Mataram, the provincial capital of West Nusa Tenggara (NTB) province distributed early this week about Rp 85 million of the royalty it received from PT Newmont Nusa Tenggara (NNT) to local small-scale companies, Antara reported on Thursday.
Mayor H.M. Ruslan said in Mataram on Wednesday that the money given to the 34 small firms were part of Rp 350 million worth of royalty received from the mining company, which operates copper and gold mining in Batu Hijau in the Sumbawa regency.
He said that the companies were the second group of small-scale firms, which received funding from Newmont royalties. The first group comprising 35 small-scale companies recently received a total of Rp 90 million.
The mayor said that the companies received about Rp 5 million each to strengthen their working capital.
PT Newmont Nusa Tenggara, which began its production late last year, said recently that it had paid a total of US$5.5 million in royalties to the government from January to June this year.
The company paid about $2.6 million in royalties in July, this year, about $2.4 million in April and $418,200 in January. (*)