Newmont Pays Smelter Deposit, Resumes Export

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  • Pekan Ini Newmont Sudah Boleh Ekspor

    Pekan Ini Newmont Sudah Boleh Ekspor

    TEMPO.CO, Jakarta - Mining giant Newmont Nusa Tenggara has finally delivered their US$ 25 million smelter building deposit. Newmont CEO Martiono Hadianto said that the payment comes with a right to export mineral products.

    "We have paid the security deposit and can start exporting this week" said Martiono in Jakarta on Wednesday, September 24, 2014. Although the exact date of copper concentrate export is not yet defined, all issues related to export activities have been addressed.

    Martiono said that in the export recommendation letter issued by the government, his company is permitted to export up to 350,000 tons of copper concentrate. "The permit is valid until March 2015 because there are only 3 months left in [2014]," he said.

    The Copper concentrates will be exported to a number of partner countries, such as Japan and China. As export activities are set to resume, Newmont has re-hired its 3,200 employees who were previously laid off by the company.