Newmont could resume exporting next month, Indonesia says


Indonesia's government says it hopes Newmont Mining's (NYSE:NEM) local unit can resume exporting in September, following a new round of contract negotiations it says will begin next week.

The country's chief economics minister says the government would use the successful recent negotiation Freeport McMoRan as a rough model for talks with NEM.

Earlier this week, NEM withdrew an international arbitration case filed against the government relating to new export taxes.

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  • james.
    , contributor
    Comments (1314) | Send Message
     
    The FCX Settlement is a nonstarter for NEM since its Copper production is only one-seventh of FCX; therefore, the current Indonesian Government that enacted the harsh law that starkly violated the NEM CoW of 1986 will be sorely disappointed when they are informed by NEM CEO Goldberg that he will conduct negotiations beginning Oct 20 when the new Indonesian President Joko Widodo takes Office ! That is why NEM stock price rose sharply when the Indonesian Constitution Court ruled recently that Mr. Joko Widodo will indeed be the President beginning on Oct 20, 2014. Look to it !
    29 Aug 2014, 04:58 PM Reply Like
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