MinergyNews.Com, Jakarta – Besides the Batu Hijau mineral property, PT Newmont Nusa Tenggara (PT NNT) owns the huge Elang-Dodo goldcopper mineral property on Sumbawa, located about 60 km east from its huge, world-class Batu Hijau gold-copper mine.
"Up until now, PT NNT has still been carrying out exploration activities. Therefore, it still is not known how large the mineral deposit potential is," stated Kasan Mulyono, the PT NNT public relations manager. Perceiving that Sumitomo’s mineral exploitation investment plan at Elang-Dodo is as large as $2.5 billion, Kasan said that this matter formed Sumitomo’s perception [to go ahead with mineral exploitation]. It is not from Newmont.
"As I just affirmed, Newmont is still in the process of carrying out exploration activities. It still has not reached the stage of studying the size of that investment that would be required for mining gold at Elang- Dodo. Whenever the exploration activities and subsequent feasibility study is completed, then the size of required investment for exploitation can be determined," said Kasan.
Explaining furthermore, Kasan said the information of Sumitomo’s investment plans at Elang-Dodo was conveyed only during the Sumitomo’s audience before the Minister of Energy and Mineral Resources around three weeks ago.
Sumitomo is one of the shareholders of PTT NNT. Kasan explained that during the first stage of the business relationship Sumitomo had held 44 percent, leaving the other 56 percent being held by the Newmont Mining Corporation.
"Every year, a change in the composition of ownership occurs," stated Kasan.
From the published data in the book concerning the Management of Tailings Marine Disposal System for 2005, the shareholders of PT NNT are 45 percent Newmont Indonesia Limited (USA), 35 percent the Nusa Tenggara Mining Corporation (Japan), and 20 percent PT Pukuafu Indah (Indonesia). [Jusuf Merauk’s company]
Currently, in PT NNT’s New Paradigm in the Mining Industry book, it is stated that the shareholders of PT NNT are 80 percent Nusa Tenggara Partnership (which is made up of 56.25 percent held by Newmont Indonesia Ltd. and 43.75 percent held by Nusa Tenggara Mining Corporation) and the remaining 20 percent held by PT Pukuafu Indah. (MNC-4)
