JAKARTA (Yosefardi) – Government of Indonesia awards export quota of 200,000 tons for copper concentrate until end of this year and 3,00,000 tons export quota for January-February next year to PT Newmont Nusa Tenggara, a copper-gold mining company in West Nusa Tenggara,.
The government awards export quota for Newmont after the company got the listed exporter (ET) recommendation which led the government to issue the approval letter for export (SPE).
Newmont had also paid a commitment fee of US$25 million for building smelter. Newmont will expectedly commence its production operation this month and its Batu Hijau’s copper mine will commence export of its copper concentrate this month.
The government of Indonesia and Newmont have recently reached a deal on the mining contract renegotiation, after Newmont deciding to withdrawn its international arbitration lawsuit against Indonesia related to the cooper concentrate export ban.