JAKARTA (Yosefardi) – PT Newmont Nusa Tenggara, a copper-gold mining company in West Nusa Tenggara, has withdrawn its international arbitration lawsuit against Indonesia related to the cooper concentrate export ban.
Newmont Mining Corp has early last month appealed the government of Indonesia related to the said case.
Newmont Nusa Tenggara’s spokesperson Rubi W Purnomo said in a press statement released today (August 27) that the withdrawal of lawsuit was based on a commitment made by Indonesian senior officials to renegotiate the Memorandum of Understanding (MoU) on export regulation.
According to Purnomo the renegotiation of MoU will be followed by the starting of cooper-gold production in the mining site.
Newmont had earlier June stopped all activities of processing and production for copper concentrate at Batu Hijau mine, West Sumbawa, as the storage facility is on full capacity.