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| PT Newmont Nusa Tenggara (PTNNT) is an Indonesian
joint venture company owned by Nusa Tenggara Partnership and by PT Pukuafu Indah. In 1986
PTNNT signed a Contract of Work Agreement for our Batu Hijau copper and gold mine with the
Republic of Indonesia in an area located on West Nusa Tenggara Province. |
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Batu Hijau is an open pit mine with associated processing and support facilities. Our
product is copper concentrate containing small quantities of gold which is transported to
local and foreign smelters for further processing. The project is located in West Sumbawa
regency, West Nusa Tenggara. |
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| The Batu Hijau porphyry copper deposit was discovered in 1990 after ten years of
exploration. Following the approval of the feasibility study and environmental impact
analysis (ANDAL), a US$1.8 billion construction project commenced in early 1997 and
finished in late 1999, followed by commissioning/ start up. Commercial production started
on 1 March 2000. |
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Based on the feasibility study, Batu Hijau's ore reserves were 1.1 billion tons containing
0.525 percent copper and 0.37 grams per ton of gold. At the current production rate, Batu
Hijau's mine life is expected to continue until 2023. PTNNT is currently exploring other
parts of its Contract of Work area such as the Elang exploration prospect. |
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As a contractor to the Government of Indonesia, PTNNT contributes substantially to the
nation's economy through employment, domestic purchases, royalties and taxes. Currently,
PTNNT is responsible for the direct employment of over 7,000 people. Of these, more than
60 percent are from the province of West Nusa Tenggara.
In 2007, PTNNT contributed more than $248 million in taxes, non-taxes and royalties to the Indonesian government. In addition, PTNNT annually purchases goods and services from within Indonesia amounting more than US$154 million, pays US$58 million to national employees and spends US$4 million in community development.
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