Newmont pays $6.25m royalty to RI

The Jakarta Post , Jakarta | Mon, 08/09/2004 10:50 AM | Business

JAKARTA: Copper and gold miner PT Newmont Nusa Tenggara paid to the government US$6.25 million as a second quarterly royalty on the concentrate shipped from April to June 2004, the company said in a press release.

The payment included $4.74 million for copper, $1.48 million for gold and $37,535 for silver, the firm said.

The company, a subsidiary of U.S.-based Newmont Mining Corporation, began paying royalties to the government after its first concentrate shipment in 1999, and has paid a total of $77.78 million to date.

The firm operates a huge copper and gold mine in the Batu Hijau area of Sumbawa island. -- JP

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