[Kabar-indonesia] 4 Newmont Reports: West Sumbawa Regency 3% Stake; Lower Gold Sales

[JoyoNews at aol.com]

4 reports: 

excerpt from "Equity Gold Sales:" The company also said it expects 
to generate pretax gains of about $295 million from the sale of its Black 
Gold heavy oil property in Canada and the Martabe project in Indonesia. 

- Indonesia's West Sumbawa local govt cleared to buy 3 pct 
  stake in Newmont unit

- Newmont Mining Sees Equity Gold Sales Falling Temporarily

- Newmont Announces Ops Outlook And Diamond Investment

- Newmont sees lower gold sales in 2006, 2007

Indonesia's West Sumbawa local govt 
cleared to buy 3 pct stake in Newmont unit

JAKARTA, September 27 (XFN-ASIA) - The West Sumbawa regency 
can now proceed to acquire a 3 pct stake in Newmont Mining unit, 
PT Newmont Nusa Tenggara, after the central government decided 
not to buy it, a government official said.

Ministry of Energy director general for geology and mineral resources,
Simong Sembiring, said Finance Minister Sri Mulyani Indrawati
confirmed the central government will not proceed with the purchase.

"The mine has good prospects but it (acquiring the stake) is not a
priority at the moment," Sembiring, quoted a letter from Indrawati as
saying.

"So, the local government can go ahead now," the letter added.

Under the terms of a contract struck between the government and the
Newmont unit, the foreign owners must gradually reduce their holding,
starting from the sixth year of operation, to 49 pct by the end of the
tenth year.

The first reduction has to take place this year.

Newmont Nusa Tenggara is an 80:20 pct joint venture between Nusa
Tenggara Partnership and local firm PT Pukuafu Indah. Nusa Tenggara
Partnership is 56. 25 pct owned by Newmont Indonesia Limited and 43.75
pct by Summitomo.

Separately, Newmont Nusa Tenggara spokesman Kasan Mulyono told XFN
Asia that the firm paid 101 mln usd to the Indonesian government last
year in taxes, non-taxes and royalties.

He said the firm produced 550 mln pounds of copper and 500,000 ounces
of gold last year from its Batu Hijau mine on Sumbawa island in the
province of West Nusa Tengara.

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Dow Jones Newswires
September 27, 2006 

Newmont Mining Sees Equity Gold Sales Falling Temporarily

Newmont Mining Corp. (NEM) Wednesday said it expects equity gold sales 
to temporarily decline before increasing once development projects in Nevada, 
Ghana and Australia reach full production rates in 2008 and 2009. 

Denver-based Newmont now expects equity gold sales of 5.6 million to 5.8 
million ounces for 2006 and of 5.2 million to 5.6 million ounces for 2007. 

The company cited lost sales from the Zarafshan-Newmont joint venture and 
lower than expected production from the Yanacocha project in Peru for the 
decline. 

Newmont also said it expects costs related to sales for 2007 to rise between 
20% and 25% from its anticipated 2006 level of between $290 and $310 per 
ounce. 

The company also said it expects to generate pretax gains of about $295 
million from the sale of its Black Gold heavy oil property in Canada and the 
Martabe project in Indonesia. It expects the gains to be partially offset by a $94 
million noncash write-off of the Zarafshan-Newmont joint venture due to the 
Uzbek government's expropriation of the company's assets. 

Newmont also agreed to acquire a 40% interest in Shore Gold Inc.'s Fort a la 
Corne joint venture, located in Saskatchewan, Canada, for $153 million. 

The stock closed Tuesday at $44.01, up 2.2%. 

----------------------------------------

Dow Jones News Service
September 27, 2006

Newmont Announces Ops Outlook And Diamond Investment

Newmont Mining Corp. (NEM) Wednesday said it expects equity gold sales
to temporarily decline before increasing once development projects in
Nevada, Ghana and Australia reach full production rates in 2008 and
2009.

Denver-based Newmont now expects equity gold sales of 5.6 million to
5.8 million ounces for 2006 and of 5.2 million to 5.6 million ounces
for 2007.

The company cited lost sales from the Zarafshan-Newmont joint venture
and lower than expected production from the Yanacocha project in Peru
for the decline.

Newmont also said it expects costs related to sales for 2007 to rise
between 20% and 25% from its anticipated 2006 level of between $290
and $310 per ounce.

The company also said it expects to generate pretax gains of about
$295 million from the sale of its Black Gold heavy oil property in
Canada and the Martabe project in Indonesia. It expects the gains to
be partially offset by a $94 million noncash write-off of the
Zarafshan-Newmont joint venture due to the Uzbek government's
expropriation of the company's assets.

Newmont also agreed to acquire a 40% interest in Shore Gold Inc.'s
Fort a la Corne joint venture, located in Saskatchewan, Canada, for
$153 million.

The stock closed Tuesday at $44.01, up 2.2%.

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Newmont sees lower gold sales in 2006, 2007

By Matt Daily

NEW YORK, September 27 (Reuters) - Newmont Mining Corp. 
on Wednesday cut its forecast for gold sales this year and next 
because of a loss of business in Uzbekistan, lower output in Ghana, 
and the sale of a Canadian unit.

Sales will recover in 2008 and 2009 when projects in the United
States, Ghana and Australia reach full production, the company said.

Newmont, whose shares were down 2 percent, said it expects equity 
gold sales -- the portion of gold produced at its mines that it owns
outright -- of 5.6 million to 5.8 million ounces in 2006, dropping to
between 5.2 million and 5.6 million ounces in 2007.

In July, the company forecast sales of 5.9 million to 6.2 million
equity ounces this year at costs of $290 to $310 per ounce. 
Equity gold sales totaled 6.5 million ounces in 2005.

Costs applicable to sales for the rest of the year are expected to be
in line with the July guidance, Newmont said, but will rise 20 percent
to 25 percent in 2007.

Sales this year will be hurt by the Uzbek government's appropriation
of Newmont's 50 percent stake in the Zarafshan-Newmont joint venture,
lower output in Ghana because of power shortages, and the planned sale
of the Holloway mine in Canada, Newmont said.

Uzbekistan has sought $49 million in back taxes for the period
2002-2005 in a dispute with the company, and Newmont said in August it
had lost day-to-day control over the Zarafshan venture.

The loss of gold from the venture, and lower production from Yanococha
in Peru, will hurt 2007 sales, the company said.

An expected $94 million non-cash write-off from Zarafshan would
somewhat offset expected pre-tax gains of $295 million from the sale
of the company's "Black Gold" heavy oil property in Canada and the
Maratabe property in Indonesia.

Newmont also said it had bought a 40 percent stake in Shore Gold Inc's
Fort a la Corne joint venture in Saskatchewan for $153 million.

Newmont shares were down 88 cents to $43.13 in morning trade on the
New York Stock Exchange.

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Joyo Indonesia News Service
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