PT Newmont Nusa Tenggara’s export terminal
Indonesian copper and gold mining company PT Newmont Nusa Tenggara (PTNNT) has announced plans to resume copper concentrate shipments this week after receipt of an export permit. The company notes that it has been preparing to resume exports since signing of an MoU with the Indonesian government in early September.
With this export permit, PTNNT notes that it is working with PT Freeport Indonesia to develop a copper smelter in support of the government’s strategy to increase domestic processing of the raw material.
Effective with the signing of the MoU and receipt of an export permit, PTNNT agreed to pay export duties set forth in a new regulation issued in July 2014, provide a $25 million assurance bond to demonstrate its support for smelter development, and pay royalties of 4 percent for copper, 3.75 percent for gold, and 3.25 percent for silver, and pay a nominal deadrent per hectare.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,912 members that receive our newsletter.
Have a news tip? Let us know.
(Bloomberg) — Climate-friendly hydrogen was one of the most-hyped sectors in green energy. Now the reality of its high cost is taking its toll. In recent months, some of the...
(Bloomberg) — Canada is working with Nordic countries to create a new Arctic security coalition that would exclude Russia and offer a place to coordinate on defense, intelligence and cyber...
(Bloomberg) — An explosive-laden drone boat slammed into an oil tanker as it sailed past the coast of Yemen, a sign Israeli airstrikes haven’t deterred the country’s Houthi militants from...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,912 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
