Freeport, Newmont Allowed to Export Minerals in June
29 May 2014 10:56 WIB
TEMPO.CO, Jakarta - Coordinating economic minister Chairul Tanjung said Freeport Indonesia and Newmont Nusa Tenggara have confirmed their commitment to build smelters and will soon to deposit their financial guarantee, more commonly called surety bond, in government-appointed banks.
"So, the problems, particularly those related to mineral exports, can be settled because the export duty will be adjusted by the Finance Minister’s Regulation," Chairul said at a press conference after a coordination meeting on Wednesday night, May 28, 2014.
Chairul said Freeport will deposit US$115 million, while Newmont that has pledged to build smelters with Freeport is committed to pay US$25 million.
"Both companies will build a large-capacity smelter," Chairul said.
According to Chairul, both companies paid different amount of money because each of them has different production capacity.
Chairul further added that he will report the matters to the president and ask for approval in a limited cabinet meeting.
"Simultaneously, the finance minister then will issue the regulation and the trade minister will issue export permits," he said.
ANGGA SUKMA WIJAYA
