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Newmont copper export permit not renewed by Indonesia- 2016 China(Guangzhou)NON-FERROUS METALS Exhibition
9/24/2015 non-ferrous metals expo |
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Reuters reported that Newmont Mining Corp''s Indonesian copper export permit, which expired on Tuesday, will not be renewed as the US miner has failed to meet government stipulations for developing a domestic smelter.
The report quoted a senior mine ministry official as saying that “Newmont proposed an export permit extension and we evaluated it. Newmont has not fulfilled requirements."
Mr Didi Sumedi, director of export industry and mining products at the trade ministry, told Reuters on Tuesday that no export permit had been issued to Newmont, and no recommendation from the mines ministry had been received.
However Newmont Chief Executive Mr Gary Goldberg said on Tuesday that Newmont is in talks with the Indonesian government and has filed an application with the additional information officials wanted on how the miner plans to support the country''s investment in smelter development. He said he expected it would take a couple of weeks to sort out. He added “In the meantime we continue to operate at full capacity. The last export shipment was earlier today.”
Newmont, Indonesia''s second largest copper miner, has to renew the permit every six months following an agreement with the government a year ago to develop local mineral processing facilities.
Newmont is forecast by the Indonesian government to produce 500,000 tonnes of copper and gold concentrate in 2015 from its Batu Hijau mine.
Indonesia had imposed a hefty export tax in January 2014 as part of moves to force all miners to develop domestic smelters, which would bring bigger returns for the government from Indonesia''s mineral resources.
有色金属展-2016年第十七届广州国际有色金属展览会-巨浪展览
non-ferrous
metals- 2016 China(Guangzhou)NON-FERROUS METALS Exhibition
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