| MINISTRY OF ENERGY AND MINERAL RESOURCES REPUBLIC OF INDONESIA PRESS RELEASE NUMBER: 23/HUMAS DESDM/2009 Date: 1 April 2009 Subject Arbitral Tribunal Final Judgement of Dispute Settlement on Share Divestment of PT Newmont Nusa Tenggara |
| Based on Arbitration process of Dipute Settlement on Share divestment of PT Newmont Nusa Tenggara (PT NNT), which was held in Jakarta on 8 to 13th December 2008, the final judgement of Tribunal Arbitration that has International Reputation under United Nation Commission on International Trade Law (UNCITRAL) was entered in favour of Government of Indonesia (GOI) on March 31st 2009 and found that : |
| 1 | Ordered that PT NNT to implement the provisions of clause 24.3 Contract of Work. |
| 2 | Conclude that PT NNT has breached the contract. |
| 3 | Ordered that PT NNT to divest 17% of its share, as 3% of 2006 divestment and 7% of 2007 divestment to the local government. While 7% of 2008 divestment shall be for GOI. All of the above mention obligations has to be settled not more than 180 days from the date of final judgement. |
| 4 | The diversed shares shall be clear and clean, and the investment to buy the shares is not under PT NNT obligation. |
| 5 | Ordered that PT NNT to pay all of the expenses of GOI for the case of arbitration and it shall be settled not more than 30 days from the date of final judgement. |
Head of Legal and Public Relation Bureau Sutisna Prawira |
