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Newmont files for international arbitration against Indonesia govt over export curbs
July 1, 2014 / 9:46 AM / 3 years ago

Newmont files for international arbitration against Indonesia govt over export curbs

JAKARTA, July 1 (Reuters) - Newmont Mining Corp said on Tuesday it had filed for international arbitration against the Indonesian government over mining export restrictions.

Newmont, which declared force majeure last month at its Batu Hijau copper mine, is in dispute with the Indonesian government over an escalating export tax imposed in January that the U.S.-based miner says conflicts with its mining contract.

“PTNNT (Newmont’s Indonesian operations) and its shareholders are left with no option but to seek relief through international arbitration to ensure our stakeholders’ jobs, rights and interests are protected,” Martiono Hadianto, president director of PTNNT said in a statement. (Reporting by Michael Taylor; Editing by Himani Sarkar)

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