Mineral royalties paid by Newmont Mining Corp.'s Indonesian unit - PT Newmont Nusa Tenggara - to the Indonesian government on its mineral production rose by almost 200 percent in the fourth quarter according to a document from the company.
Royalties from PTNNT stood at IDR48.8 billion ($4.13 million) in the three months to Dec. 31, up from IDR14.8 billion in the third quarter. No reason has been given for the increase.
Combined royalties, taxes and non-tax payments rose 83% in 2008 to IDR4.22 trillion.
PTNNT operates the Batu Hijau gold and copper mine in the province of Sumbawa. The mine contains 1.1 billion tons of mineral ore and has proven and probable reserves of 7.65 million ounces of gold and 7.19 billion pounds of copper.
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