ID :
54880
Sat, 04/11/2009 - 00:12
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Shortlink :
https://www.oananews.org//node/54880
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GOVT CONSIDERING TERMINATION OF CONTRACT WITH NEWMOUNT
Jakarta, Apr 9 (ANTARA) - The government is considering terminating the contract of work with PT Newmont Nusa Tenggara (MNT)soon, following a decision of the international court of arbitration granting the government's law suit against the company.
Energy and Mineral Resources Minister Purnomo Yusgiantoro said here on Thursday he has formed a special team of legal experts to consider putting an end to the contract of work with the company.
"The team will find out whether the international court of arbitration's decision would enable the government to put an end to the contract of work. If the answer is yes, I may terminate the contract. But, if it is otherwise, I would have to think about it," he said.
Purnomo said he has sent a letter to NNT, the contents of which covered some matters conducted within 30 days and 180 days.
According to him, the option to decide the contract with NNT will be immediately taken without waiting for 180 days in line with the decision of arbitration court on account of the company's default in making a divestment of its shares in 2006 and 2007.
In the meantime, other options had to do with NNT's default which has taken place, but in line with the decision of arbitration court 180 days could still be given to settle the diversement of shares in the 2006-2008 period reachinbg 17 percent.
"If NNT can comply with the decision of the arbitration court in 180 days, there is no need to terminate its contract. But otherwise, there is no other way except terminating the contract," he said.
Purnomo further said that the option to terminate contract with NNT is now not considered as an infringement of the arbitration court's decision.
Energy and Mineral Resources Minister Purnomo Yusgiantoro said here on Thursday he has formed a special team of legal experts to consider putting an end to the contract of work with the company.
"The team will find out whether the international court of arbitration's decision would enable the government to put an end to the contract of work. If the answer is yes, I may terminate the contract. But, if it is otherwise, I would have to think about it," he said.
Purnomo said he has sent a letter to NNT, the contents of which covered some matters conducted within 30 days and 180 days.
According to him, the option to decide the contract with NNT will be immediately taken without waiting for 180 days in line with the decision of arbitration court on account of the company's default in making a divestment of its shares in 2006 and 2007.
In the meantime, other options had to do with NNT's default which has taken place, but in line with the decision of arbitration court 180 days could still be given to settle the diversement of shares in the 2006-2008 period reachinbg 17 percent.
"If NNT can comply with the decision of the arbitration court in 180 days, there is no need to terminate its contract. But otherwise, there is no other way except terminating the contract," he said.
Purnomo further said that the option to terminate contract with NNT is now not considered as an infringement of the arbitration court's decision.
