Wednesday, 26th July 2006 (1481 views)

PT Newmont Minahasa Ray (NMR), a subsidiary of major gold producer Newmont, will establish a $30 million fund for rehabilitation work post-operations in Indonesia.

The news was revealed in last month's International Council on Mining & Metals (ICMM), which said the fund was "further evidence of the company's commitment to indigenous peoples in the region and has been welcomed by the Indonesian government".

Scientists will monitor the impacts of NMR activities and provide advice.

Indonesia's co-ordinating minister for people's welfare, Aburizal Bakrie, said: "With this agreement, we have emphasised on the interests of the people and demonstrated our commitment on protecting the environment properly."

NMR has been mining in North Sulawesi, Indonesia, for around seven years and contributes significantly to the local economy – since it began operating it has provided employment for 700 local people.

The company has also helped to boost the wider economy by buying more than $100 million worth of goods and services from local enterprises.

 

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