ESDM - As Claimant, The Government of Indonesia Has Reported PT NNT to the International Arbitrary Court

DEPARTMENT OF ENERGY AND MINERAL RESOURCES
REPUBLIC OF INDONESIA

PRESS RELEASE

NUMBER: 46/HUMAS DESDM/2008
DATED: JULY 17 2008

As Claimant, The Government of Indonesia Has Reported PT NNT to the International Arbitrary Court

JAKARTA.The Government of Indonesia through its Minister for Energy and Mineral Resources (ESDM) is the claimant which have filed a lawsuit towards PT Newmont Nusa Tenggara (NNT), as respondent, to the International Arbitrary Court.

The Government of Indonesia’s case towards PT NNT was reported on March 3rd 2008, with a deadline after default which was set by the Government of Indonesia on February 11th 2008. before this deadline, PT NNT has been given the opportunity to extend this deadline twice, which are on February 22nd and February 25th 2008.

On these grounds, the spreading of information that PT NNT as the claimant which have filed a case towards The Government of Indonesia is wrong and not true.

The Government of Indonesia feels that it must take measures to report to the International Arbitrary Court because PT NNT have repeatedly failed to implement its obligation of stock divestment in 2006 and 2007, as stated in the work contract. The Government of Indonesia has also given its warning for PT NNT’s obligation for divestment in 2008.

This lawsuit to the International Arbitrary Court aims to maintain the investment climate and uphold the attitude of contract partners to respect their contract. If this default which was set by The Government of Indonesia towards PT NNT is upheld by the International Arbitrary Court, then the Government of Indonesia will stop its work contract with PT NNT.

Head of Legal and Public Relations Bureau

Sutisna Prawira

Siaran Pers

As Claimant, The Government of Indonesia Has Reported PT NNT to the International Arbitrary Court

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