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JAKARTA. Copper mining firm PT Newmont Nusa Tenggara has sealed a memorandum of understanding (MoU) with the government regarding the renegotiation of its contract of work (CoW).
Newmont president director Martiono Hadianto said in Jakarta on Thursday that the MoU was signed late on Wednesday.
Following the signing, Newmont is expecting to be able to resume its production at Batu Hijau mining site, which has been halted as a consequence of the government's mineral ore export ban.
"I'm expecting to be able to restart shipment next week," Martioni said after a meeting at the mineral and coal directorate general.
Newmont is waiting to obtain a recommendation letter for concentrate from the directorate general. The mineral and coal office said earlier that Newmont would be able to send abroad 200,000 tons of concentrate if it could seal the MoU.
The MoU will be a basis the drafting the CoW amendment. The government is struggling to renegotiate mining contracts and adjust them with the 2009 Mining Law.
The CoW amendment is targeted for completion within six months. (Raras Cahyafitri)
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