TEMPO.CO, Jakarta – PT Newmont Nusa Tenggara (PT NTT), a subsidiary of US-based Newmont Mining Corp., has withdrawn its arbitration lawsuit against the Indonesian government regarding the ban on raw mineral exports.
“The decision to retract this suit is made as the government’s top officials guarantee there will be re-negotiations to reach an MoU,” PT NTT spokesman Rubi Purnomo said in a release dated Wednesday, August 27, 2014.
Rubi said through this decision PT NTT was cancelling its arbitration suit it had lodged earlier with the International Centre for Settlement of Investment Disputes (ICSID).
“The signing of the MoU with the government will be followed by measures to boost the production of copper concentrates and exports from Batu Hijau,” he said.
On July 1, 2014, PT NTT filed an international arbitration lawsuit against the Indonesian government in light of the latter’s decision to bar concentrate exports beginning January 12, 2014. PT NTT has since halting its mining operations in Batu Hijau, Sumbawa, West Nusa Tenggara.
AYU PRIMA SANDI