Newmont Indonesia Unit Royalties To Government Triple In 4Q Vs 3Q
February 12 2009 - 12:12AM
Dow Jones News
Royalties paid to the Indonesian government by Newmont Mining
Corp.'s (NEM) Indonesian unit on its mineral production almost
tripled in the fourth quarter from the preceding period, a document
from the company showed.
Royalties from PT Newmont Nusa Tenggara, known as PTNNT, rose to
IDR48.8 billion ($4.13 million) in the three months to Dec. 31 from
IDR14.8 billion in the third quarter.
The company also said in a statement that its combined
royalties, taxes and non-tax payments rose 83% in 2008 to IDR4.22
trillion.
Combined royalties, taxes and non-tax payments in the fourth
quarter was IDR871.9 billion, 13.7% higher than IDR767.2 billion in
the third quarter, the statement said.
The statement didn't elaborate on the reason for the higher
payments, and PTNNT officials weren't available to respond to media
queries.
PTNNT operates the Batu Hijau gold and copper mine in
Indonesia's Sumbawa province, which contains 1.1 billion tons of
mineral ore. The mine has proven and probable reserves of 7.65
million ounces of gold and 7.19 billion pounds of copper.
-By Reuben Carder, Dow Jones Newswires; 62 21 3983 1277;
Reuben.Carder@dowjones.com