Newmont Pays Off Arbitration Fine To Indonesia

Thursday, April 23, 2009



Energy and Minerals minister Purnomo Yusgiantoro confirmed the payment. He says the government will negotiate the price of Newmont's stocks during the 180 day period to divest the company's shares.

Yusgiantoro adds that he will still consult Newmont to appraise the value of its stocks. The government and Newmont went to international arbitration following a dispute over the terms to divest the company's shares in a West Nusa Tenggara mining operation in 2008.

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MEGAWATI THREATENS TO BOYCOTT PRESIDENTIAL ELECTIONS

PDI-P secretary general Pramono Anung says the parties will give the KPU until May 9th to sort out its problems with the vote count. They requested the government and KPU to account for missent ballots, and speed up the vote count. Anung also deplored the National Police for dismissing the BAWASLU monitoring agency's report on election violations.

President Yudhoyono dismissed the threat to boycott the presidential race. He encouraged the discontented parties to run in the elections.

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