REPUBLIKA.CO.ID, JAKARTA -- Government has not yet received an official letter of PT Newmont Nusa Tenggara (NTT) regarding the cancellation of its arbitration request at the International Centre for Settlement of Investment Disputes (ICSID) over the banning of concentrate exports. Government welcomes the good will and expresses its readiness to open up renegotiation process in near future.
"We have not yet received the official letter, but Newmont has made public statement about the cancellation. I am sure, they will definitely return to dialogue process with government," Minister of Industry MS Hidayat said on Wednesday.
Before Newmont filed the lawsuit, there had been several points of renegotiation coordinated among the two parties, including contract agreement in Sumbawa, West Nusa Tenggara.
"At that time, the renegotiation is still on going process, but suddenly they brought the issue to international arbitration. Of course it made us confused," Hidayat added.
The cancellation means that Newmont commits to continue cooperation with Indonesian government in the long term. Newmont spokesman, Rubi W Purnomo said that the MoU signatory will be followed by production activity at Batu Hijau mine area.
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