Below is a list with tagged columns and company profiles.

Today's Headlines Newmont Nusa Tenggara

  • Mining in Indonesia: Newmont and Government Agree on Renegotiations

    The Indonesian government and Newmont Nusa Tenggara (NNT) have reportedly agreed on the content of a renegotiation package after an 8-month dispute over the mineral ore export ban. NNT, subsidiary of the USA-based Newmont Mining Corporation, will be allowed to resume copper concentrate exports up to 200,000 tons (with a value of about USD $400 million) until the end of 2014. Last week, NNT already announced it would not seek international arbitration over this matter.

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  • Indonesia Investments' Newsletter of 31 August 2014 Released

    On 31 August 2014, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic topics such Indonesia’s fuel subsidies, an August inflation forecast, the conflict between the government and Nusa Tenggara Newmont, a new geothermal energy bill, infrastructure development, and more.

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  • Freeport Indonesia Can Resume Copper Concentrate Exports from Indonesia

    Contrary to Newmont Nusa Tenggara (which has been in a heated dispute with the Indonesian government), Freeport Indonesia obtained a permit to resume copper concentrate exports from Indonesia after these had ceased since January 2014 when the government implemented the ban on exports of unprocessed minerals. Freeport Indonesia Chief Executive Rozik Sutjipto announced that the memorandum of understanding between both sides has been signed. The miner is the Indonesian unit of US based Freeport-McMoRan Copper & Gold.

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  • Mining in Indonesia: Newmont Nusa Tenggara’s Ore Concentrate Export

    Indonesia's Minister for Energy and Mineral Resources Jero Wacik opened the possibility for Newmont Nusa Tenggara, subsidiary of US-based gold miner Newmont Mining Corporation, to resume exports of ore concentrates, provided that Newmont shows its commitment to build a smelter in Indonesia as in accordance with the new and controversial 2009 Mining Law. One of the targets of this new law is to boost Indonesia’s downstream mining industry by prohibiting export of unprocessed minerals.

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  • Indonesia Investments' Newsletter of 8 June 2014 Released

    On 8 June 2014, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic topics such as an analysis of the April 2014 trade balance and May 2014 inflation, the 2009 Mining Law, energy subsidies, palm oil export, foreign exchange reserves, Link Net’s IPO, and more.

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  • Freeport Indonesia and Newmont Nusa Tenggara Build Processing Facilities

    Freeport Indonesia and Newmont Nusa Tenggara Build Processing Facilities

    R. Sukhyar, Director General for Coal and Mineral Resources at the Indonesian Ministry of Energy and Mineral Resources, said that Freeport Indonesia and Newmont Nusa Tenggara, two of the largest copper miners in Indonesia, have shown their commitment to build refining facilities (in line with the 2009 Mining Law) by agreeing to transfer a total of USD $140 million to the government as a deposit guarantee. Freeport will transfer USD $115 million, whereas Newmont will transfer the remaining USD $25 million.

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  • Indosmelt Prepares IPO on the Indonesia Stock Exchange in 2015

    Indosmelt Prepares IPO on the Indonesia Stock Exchange in 2015

    PT Indosmelt, an Indonesian smelting company, is planning to conduct an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) somewhere in 2015. Through this corporate action the company aims to raise USD $450 to $500 million in new funds by selling 49 percent of its enlarged capital to the public. President Director of Indosmelt Natsyir Mansyur said that the company is currently in talks with Kresna Graha Sekurindo to act as lead underwriter. The funds will be used to build a gold refinery.

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Latest Columns Newmont Nusa Tenggara

  • Regulatory Uncertainty Plagues Indonesia’s Mining Sector Again

    Regulatory Uncertainty Plagues Indonesia’s Mining Sector Again

    One of the weak points of Indonesia, one that seriously hurts the country’s investment climate as well as foreign confidence, is regulatory uncertainty. In 2009 the government of Indonesia introduced Law No. 4/2009 on Mineral and Coal Mining (New Mining Law) which caused a shock in Indonesia’s natural resources sector as it includes several new policies that make investors think twice before investing in Indonesia as the consequences of these new policies are far-reaching. However, a possible new amendment to the law causes new concern.

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  • Mineral Resources Indonesia: Copper Concentrate and Coal Export Update

    Mineral Resources Indonesia: Copper Concentrate and Coal Export Update

    Global copper prices can come under pressure as Newmont Nusa Tenggara (NNT) has started to export copper concentrate again this week after a nine-month hiatus caused by the dispute between the Indonesian government and NNT about Law No. 4 of 2009 on Mineral and Coal Mining (the “New Mining Law” of Indonesia), which sets high export taxes on unprocessed mineral exports (and stipulates a complete ban by 2017), in an effort to force Indonesian miners to build local processing facilities.

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  • Newmont Nusa Tenggara Resumes Copper Concentrate Exports

    Newmont Nusa Tenggara Resumes Copper Concentrate Exports

    Newmont Nusa Tenggara (NNT), subsidiary of US-based mining company Newmont Mining Corp, has received a permit from the Indonesian government to export 350,000 metric tons of copper concentrate in the next three years. Three weeks ago it became known that both parties agreed on the content of a renegotiation package after an eight-month dispute over Indonesia’s mineral ore export ban, implemented on 12 January 2014 (part of the New Mining Law). In the remainder of 2014, the company is expected to export 160,000 tons.

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  • Mining in Indonesia: Newmont Nusa Tenggara Drops Arbitration Case

    Mining in Indonesia: Newmont Nusa Tenggara Drops Arbitration Case

    Reportedly, Newmont Nusa Tenggara (NNT) will not seek international arbitration at the Centre for Settlement of Investment Disputes (ICSID) in Washington (USA). Previously, the miner threatened to file for arbitration in an attempt to force the Indonesian government to cancel the recently introduced ban on exports of unprocessed minerals as well as to abort higher export duties. NNT is a subsidiary of Newmont Mining Corporation that operates the Batu Hijau mine, an open pit copper and gold mine in Sumbawa.

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  • Mining Renegotiations: Freeport Indonesia Builds Copper Smelter

    Mining Renegotiations: Freeport Indonesia Builds Copper Smelter in Gresik

    Subsidiary of US-based natural resources company Freeport McMoRan Copper & Gold Inc, Freeport Indonesia, decided to build its copper smelter in Gresik (East Java) as infrastructure around this regency makes it easier to transport its mining products for export purposes. The other location that Freeport was considering was in Papua, near its mining site the Grasberg mine, the world’s largest gold mine and third-largest copper mine. However, infrastructure in Papua (one of the poorest regions in Indonesia) is still underdeveloped.

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  • Export Ban Dispute: Newmont Nusa Tenggara vs Indonesian Government

    Export Ban Dispute: Newmont Nusa Tenggara vs Indonesian Government

    The dispute between the Indonesian government and mining giant Newmont Nusa Tenggara (NNT) over the recently implemented ban on the export of unprocessed copper, gold, nickel, bauxite and iron is heading for a climax. In Indonesian media, President Susilo Bambang Yudhoyono was quoted saying “NNT has undermined the sense of justice of the Indonesian people” and pronounced his disappointment of NNT’s reluctance to respect the sovereignty of the state. Previously, the government said it may revoke mining permits of NNT.

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  • Export Ban Dispute Newmont Nusa Tenggara vs Indonesian Government

    Export Ban Dispute Indonesian Government vs Newmont Nusa Tenggara

    Whether Newmont Nusa Tenggara (NNT) will file for international arbitration over a six-month old export dispute with the Indonesian government remains unclear. Although many analysts would like to see international arbitration over this case, such a step would imply several risks for the copper miner (which is for 56 percent owned by US-based Newmont Mining Corporation and Japan’s Nusa Tenggara Mining Corporation). The source of the dispute is Indonesia’s recently-introduced ban on exports of ore concentrates.

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  • China Concerns: What to Expect of the Global Copper Price in 2014?

    China Concerns: What to Expect of the Global Copper Price in 2014?

    In the last 12 months, the international copper price showed a neutral movement (moving more or less sideways). This is particularly due to a number of issues in China, the world’s second largest economy, which impact negatively on the copper price movement. China has become such an important market for a variety of commodities, including copper (used in construction and electronics), that other countries can be considered almost irrelevant. Why do analysts have low expectations of the copper market for the remainder of 2014?

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  • Newmont Nusa Tenggara's Arbitration Case over Indonesian Export Ban

    Newmont Nusa Tenggara Files Arbitration Case over Indonesian Export Ban

    Indonesian Minister of Energy and Mineral Resources Jero Wacik regrets to see Newmont Nusa Tenggara, one of Indonesia largest copper miners, file for international arbitration due to Indonesia’s export ban stipulated by Law 4/2009 on Mineral and Coal Mining (Minerba). This new law includes the ban on exports of ore concentrates from Southeast Asia’s largest economy. Instead, Indonesian miners are required to process the minerals domestically first. The ban was implemented on 12 January 2014.

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  • Export Tax Dispute Leads to Force Majeure for Newmont Nusa Tenggara

    Export Tax Dispute Leads to Force Majeure for Newmont Nusa Tenggara

    Newmont Nusa Tenggara (NNT), one of Indonesia’s largest copper miners, said on Thursday (05/06) that it sees no other option than to declare a force majeure at its Batu Hijau copper mine in Sumbawa (West Nusa Tenggara) due to the export tax dispute with the Indonesian government. President Director of NNT Martiono Hadianto also informed the Indonesian Ministry of Energy and Mineral Resources that 80 percent of the company’s workers will be put on leave with reduced salaries.

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Associated businesses Newmont Nusa Tenggara