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Headlines April, 2007 Newmont to expand in Indonesia
Headlines April, 2007 Newmont to expand in Indonesia
Newmont to expand in Indonesia
Wednesday 25th 2007f April, 2007
Newmont gold mining has admitted it is considering expanding in Indonesia following its success at court over pollution claims.
Newmont was acquitted of responsibility from the accusations of dumping dangerous levels of toxins into the water at Sulawesi Island and subsequently making locals sick this week.
The company has admitted that Tuesday's decision means it now has the green light to boost its capacity at gold and copper mines on the island by as much as 50 per cent.
"That would result in about a 30 percent to 40 per cent increase in metal production," Robert Gallagher, the company's vice president for operations in Indonesia, told the Associated Press.
However, he added: "Much depends on how we feel about the political risks, the legal risks… this [court] decision is certainly a tick in the right box for that."
Newmont chief executive Wayne Murdy told the Denver Post that the decision created an environment which is "conducive to long-term investment", but that a negative ruling would have "changed" the company's decision to invest.
Newmont was acquitted of responsibility from the accusations of dumping dangerous levels of toxins into the water at Sulawesi Island and subsequently making locals sick this week.
The company has admitted that Tuesday's decision means it now has the green light to boost its capacity at gold and copper mines on the island by as much as 50 per cent.
"That would result in about a 30 percent to 40 per cent increase in metal production," Robert Gallagher, the company's vice president for operations in Indonesia, told the Associated Press.
However, he added: "Much depends on how we feel about the political risks, the legal risks… this [court] decision is certainly a tick in the right box for that."
Newmont chief executive Wayne Murdy told the Denver Post that the decision created an environment which is "conducive to long-term investment", but that a negative ruling would have "changed" the company's decision to invest.
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