JAKARTA, July 24 Indonesia's president has said the government will take stern action against Newmont Mining Corp, which has filed for international arbitration over the country's mineral export tax, the country's chief economics minister quoted him as saying.
The comments by Susilo Bambang Yudhoyono are the harshest so far in the months' long dispute over new rules intended to derive more income from the country's huge mineral resources. A Newmont spokesman had said on Wednesday it was negotiating with Indonesia to resume copper concentrate exports after it sought arbitration of the issue.
"The government will take stern action towards Newmont," chief economics minister Chairul Tanjung quoted Yudhoyono as saying. He added that the president had expressed disappointment over Newmont's attitude and said it did not value working in Indonesia. (Reporting by Jakarta Bureau, Writing by Fergus Jensen and Jonathan Thatcher; Editing by Raju Gopalakrishnan)
FOREX-Euro surges on Draghi comments, dollar slips
LONDON, June 27 The euro surged to its highest in over a week against the dollar on Tuesday after European Central Bank President Mario Draghi said factors weighing on inflation in the euro zone were mainly temporary and the Bank could look through them.