INDONESIAN MINING Newmont Concentrate Export Recommendation May Be Ceased

(MENAFNEditorial)

JAKARTA February 10 2015 – PT Newmont Nusa Tenggara would immediately apply for an extension on copper concentrate export recommendation in the near future.

According to the Minister of Energy and Mineral Resources Decree No.11/2014 Article 12 paragraph 2 the application shall be performed 45 days at the soonest and no later than 30 days before the recommendation expires.

As a result Newmont must file export extension no later than February 16 2015 or 30 days before the recommendation expires.

On September 18 2014 the company obtained a concentrate export quota as much as 350000 tons which ends on March 18 2015.

PT Newmont Nusa Tenggara Corporate Communication Rubi Purnomo said it would soon propose concentrate export recommendations extension export to the Directorate General of Mineral and Coal of the Ministry of Energy and Mineral Resources.

"A letter of request is currently being processed for submission. Our export license expires on March 18 2015" he said Monday (2/9/2015).

He hoped the Batu Hijau mine operations can be conducted continuously through the provision of export recommendation extension.

Related to the plan to build a copper cathode smelter the company is still bound to a memorandum of understanding with PT Freeport Indonesia which plans to build a smelter in Gresik East Java.

In addition it is also still bound to a conditional sale and purchase agreement (CSPA) with PT Indosmelt and PT Nusantara Smelting.

Meanwhile Director General of Mineral and Coal Ministry of Energy and Mineral Resources R. Sukhyar hoped that a subsidiary of Newmont Mining Corporation to immediately propose before the deadline specified in the regulation. Read more…