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Batu Hijau
Featured

Cu
3.30
USD/lb
-2.60
red
http://www.infomine.com/investment/metal-prices/copper/
Data as of May 23, 2013 12:00AM UTC
Au
1,386.63
USD/oz
0.01
green
http://www.infomine.com/investment/metal-prices/gold/
Data as of May 24, 2013 09:59PM UTC
Ag
22.40
USD/oz
0.00
black
http://www.infomine.com/investment/metal-prices/silver/
Data as of May 24, 2013 09:59PM UTC
Property News
News
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February 21, 2013
Newmont Mining Corp. announced new reserve and/or resource estimates for CARLIN / CARLIN OPEN PITS, USA.
February 24, 2012
Newmont Mining Corp. announced increased reserves and resources in 2011.
February 24, 2011
Newmont Mining Corp. released its Annual report.
December 14, 2009
Newmont Mining and Sumitomo announced to have completed the sale of 7% of PT Newmont Nusa Tenggara (“PTNNT”) for the 2008 divestiture to PT Multi Daerah Bersaing (“PTMDB”), a consortium comprised of regional and local governments near the Batu Hijau mine, and PT Multicapital, a private company. Upon completion of this sale, Newmont received approximately $139 million in cash, reflecting its 56.25% portion of the $247 million sale price.
November 11, 2009
PT Antam Tbk announces that Antam’s management has decided not to participate in the consortium of the West Nusa Tenggara Regional Government to purchase the divestment shares of PT Newmont Nusa Tenggara (PTNNT), which owns and operates the Batu Hijau gold and copper mine in Nusa Tenggara, Indonesia. Antam failed to reach an agreement with the West Nusa Tenggara Regional Government which leads the consortium.
September 22, 2009
Newmont Mining reported that on September 18 and 19, 2009, its affiliate PT Newmont Nusa Tenggara ("PTNNT") experienced a geotechnical failure in the west wall of the Batu Hijau open-pit mine in Indonesia. PTNNT has temporarily suspended operations in the Batu Hijau pit pending a geotechnical review and development of a plan for stabilizing the wall and recommencing mining operations. PTNNT continues to process lower-grade ore from stockpiles. It is too early to assess the impact on production and revenues and the Company will provide an update once it has a clear understanding of the impacts of the incident and related remediation on production for 2009.
July 23, 2009
Newmont Mining reported gold and copper sales for the quarter ended Jun30/09. Consolidated copper and gold sales at Batu Hijau increased 106% and 189%, respectively, in the second quarter of 2009 from 2008 due to higher throughput, grade and recoveries as a result of the mining sequence. The harder, lower grade stockpiled ore processed in 2008 resulted in significantly lower recoveries. During the second quarter of 2009, copper and gold production increased by 105% and 240%, respectively. Total Costs applicable to sales decreased by $37 in the second quarter of 2009 from 2008 due to lower waste mining, lower diesel prices, lower labor costs and lower maintenance and parts costs. Costs applicable to sales per pound of copper and per ounce of gold decreased 71% and 56%, respectively, as a result of the higher production and lower costs. Costs applicable to sales per pound of copper and per ounce of gold were also impacted by a higher allocation of costs to gold due to the lower realized copper price.
March 31, 2009
Newmont reported on Batu Hijau operations for the quarter ended Mar31/09. Consolidated copper and gold sales at Batu Hijau decreased 10% and 45% in the first quarter of 2009 from 2008, respectively, primarily due to fewer concentrate shipments in 2009 as sales during the first quarter of 2008 included a significant reduction in concentrate inventory. During the first quarter of 2009, copper production increased by 7% mainly due to higher recovery while gold production decreased due to lower grade. The higher recovery in 2009 compared to 2008 resulted from processing less oxidized stockpiled ore. Total Costs applicable to sales decreased by $75 in the first quarter of 2009 from 2008 due to lower sales and lower diesel, tire and labor costs and lower waste removal costs. Costs applicable to sales per pound of copper and per ounce of gold decreased 38% and increased 32%, respectively, as a result of the lower costs and a higher allocation of costs to gold due to the lower realized copper price.
March 31, 2009
The International Arbitration decision regarding the divestiture of Batu Hijau in Indonesia was announced. Last year, a dispute arose in relation to how the divestiture process should proceed and the Government and PTNNT submitted the matter to international arbitration in accordance with the provisions of the Contract of Work. In its decision, the arbitration panel ruled that the Government was not entitled to terminate the Contract of Work. The panel further ruled that PTNNT’s foreign shareholders had not followed the divestiture process required in 2006 and 2007. The panel granted the shareholders 180 days from the date of the decision to work with the Government to transfer the shares in PTNNT (PT Newmont Nusa Tenggara) to the Government or its designee, as specified in the Contract of Work for 2006 and 2007. The panel also confirmed that the Governent has a right of first refusal with respect to the 2008 shares. “We are currently reviewing the decision and look forward to outlining a path forward with the Government to implement the arbitration panel’s decision,” said Richard O’Brien, President and Chief Executive Officer. “We are committed to following the divestiture process as required under the Contract of Work and clarified in the decision.”
January 27, 2009
Newmont Mining Corp. released production results.
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