Newmont pays more royalties, taxes

Thu, 01/31/2008 4:00 AM | Business

JAKARTA: PT Newmont Nusa Tenggara, a local unit of U.S. mining giant Newmont Mining Corp., which operates a copper and gold mine in Batu Hijau, Nusa Tenggara, increased its royalties payments and taxes to the government by 76 percent last year.

A release sent to The Jakarta Post on Wednesday states that Newmont paid Rp 2.29 trillion (US$243 million) in 2007, as compared to the Rp 1.3 trillion it paid in 2006.

The largest tax component in 2007 was a corporate income tax payment of Rp 1.5 trillion, followed by income tax at Rp 170 billion and Rp 160 billion for royalties. -- JP

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