Indonesia's Vale says willing to increase mining royalty payments
JAKARTA, Sept 21 |
JAKARTA, Sept 21 (Reuters) - Vale's Indonesia unit , the largest nickel producer in the country, is willing to increase its royalty payments in a renegotiated contract with the government, Chief Executive Nicolaas Kanter said on Friday.
"We are willing to adjust the royalty from what we actually paid up to now," Kanter told Reuters by telephone, adding that the company was willing to increase its payments.
The company, which owns mines in South Sulawesi, Southeast Sulawesi and Central Sulawesi, announced a five-year $2-billion investment in October 2011, with a production target of 120,000 tonnes.
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