Jakarta, September 22, 2014 -- PT Newmont Nusa Tenggara (PTNNT) today announced that the company received its export permit and anticipates copper concentrate shipments to resume this week.
Ramp up operations have been underway since early September, following signing of a Memorandum of Understanding (MoU) with the Government of Indonesia, and planned milling and mining levels are expected to be achieved during October. All employees and contractors necessary to maintain normal operations are being recalled in stages and will go through refresher safety training and reintegrated into their roles over the next six to eight weeks.
DENVER, Sept. 16, 2014 – Newmont Mining Corporation (NYSE: NEM) was named to the Dow Jones Sustainability World Index (DJSI World) for the eighth consecutive year. This year, the DJSI World – one of the most highly regarded sustainability indices – includes 319 global companies identified as leaders in the areas of sustainable economic, environmental and social performance. Newmont was the first gold company named to the index in 2007, and has been included on the DJSI North America Index every year since 2006.
Jakarta, September 4, 2014 – PT Newmont Nusa Tenggara (PTNNT) and the Government of Indonesia signed a Memorandum of Understanding (MoU) that will result in the company receiving a permit to export copper concentrate.
Jakarta, August 26, 2014 – Based on encouraging recent developments, PT Newmont Nusa Tenggara (PTNNT) announced today that the company and Nusa Tenggara Partnership BV (NTPBV), PTNNT’s majority shareholder, requested discontinuance and withdrawal of the arbitration claim filed with the International Centre for Settlement of Investment Disputes (ICSID) relating to the export restrictions that halted production at the Batu Hijau copper and gold mine.
Jakarta, July 1, 2014 – PT Newmont Nusa Tenggara (PTNNT) and its majority shareholder Nusa Tenggara Partnership BV (NTPBV), a Dutch entity, announced the filing of international arbitration against the Government of Indonesia to seek relief from export restrictions that have halted production at the Batu Hijau mine and inflicted hardship and economic loss on PTNNT's employees, contractors, and other stakeholders.
Jakarta, June 5, 2014 – Following its announcement earlier this week that copper concentrate production at Batu Hijau was halted, PT Newmont Nusa Tenggara (PTNNT) today said it officially notified the government and employees that it is invoking the force majeure clause of its Contract of Work (CoW) due to ongoing export restrictions that prevent production from continuing. To minimize expenses and preserve the ability to return to normal operations in a timely fashion, approximately 80 percent of Batu Hijau's 4,000 employees will be placed on leave at reduced pay starting on June 6. PTNNT continues discussions with the government to seek a resolution of the export issues.
Jakarta, June 3, 2014 – Following its May announcement, PT Newmont Nusa Tenggara (PTNNT) today said that its copper concentrate storage facilities at Batu Hijau are now full, forcing the operation to halt processing activities and cease production of copper concentrate. PTNNT continues seeking clarity from the Government regarding Batu Hijau's ability to export concentrates.
Jakarta, May 7, 2014 – PT Newmont Nusa Tenggara (PTNNT or the Company) today announced that the Batu Hijau copper and gold mine on Sumbawa Barat expects to ramp down production on or about June 1, unless ongoing discussions with the government lead to completion of the process to secure an initial export permit. In April, PTNNT obtained registered exporter status from the Ministry of Trade, a necessary milestone prior to receiving the export permit.
The discourse over the closedown of PT Newmont Nusa Tenggara (PTNNT) early January 2014 has definitely worried some 9000 workers who have to date depended their life on the company based at Batu Hijau, West Sumbawa, West Nusa Tenggara Barat. The rumors over the company's closedown, according to Prayitno Basuki, an economic observer from the University of Mataram, should be seen from several perspectives.
MetroTVNews - Thousands of PTNNT employees have threatened to stage mass demonstrations following the decision of the work meeting of Commission VII of RI House of Reps. and EMR Ministry on Thurs. (5/12) that enforces the implementation of Law No. 4 of 2009 that bans concentrate export effective 12 January 2014. Not just Newmont employees, local entrepreneurs who have partnered with PTNNT to date will also hold similar rally.