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June 5, 2014
07:55 EDTNEMNewmont Mining says Indonesia unit invokes force majeure on export restriction
Following its announcement earlier this week that copper concentrate production at Batu Hijau was halted, PT Newmont Nusa Tenggara announced it officially notified the Government of Indonesia and employees that it is invoking the force majeure clause of its Contract of Work due to ongoing export restrictions. PTNNT continues discussions with the Government to seek a resolution of the export issues. Investors are cautioned that Newmont Mining Corporationís 2014-2016 copper outlook, issued on April 24, assumed the continuation of Batu Hijau operations, timely receipt of export approvals and other factors. To the extent that PTNNT is unable to export by the end of June, it will impact Newmontís ability to achieve its copper outlook. As a result, investors are cautioned not to rely on such outlook. Comments taken from an 8-K filing.
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