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To: Rarebird who wrote (51352)	4/12/2000 9:20:00 AM
From: Rarebird	Respond to of 116754

OT Indonesia Invest Min Regrets Crt Order On Newmont Mine Wednesday, April 12, 2000 01:48 AM Mail this article to a friend JAKARTA (Dow Jones)--Indonesia's Investment Minister Laksamana Sukardi said Wednesday that he regretted a recent court order for a temporary closure of PT Newmont Minahasa Raya's mine by April 16 over a tax dispute. "We regretted (the court order) as it's happening amid the government's efforts to attract foreign investment into the country," Laksamana said. A North Sulawesi district Court last Saturday ordered Newmont Minahasa to close its gold mine by April 16 following a lawsuit from the Minahasa Regent. The regent demands the company to pay $8 million in tax on soil and rock it removed to access the gold ore. The regent pressed ahead with the lawsuit despite a Mines and Energy statement that Newmont Minahasa isn't obliged to pay tax on overburden soil and rocks as the company neither sells the materials nor uses them for other commercial purposes. Denver-based Newmont Mining Corp. (NEM, news, msgs) owns 80% of the Newmont Minahasa mine. Laksamana's statement was the latest in a string of verbal support from government officials to Newmont Minahasa. Earlier this week Mines and Energy Minister Susilo Bambang Yudhoyono expressed his disappointment over the court ruling. But he said the government wouldn't intervene with the court proceedings. The case represents a tricky situation for the central government as it doesn't want to upset regional authorities in the face of secessionist movements. But some regional governments have flexed their muscles demanding increased taxes on foreign companies operating in their region. Analysts said the case sets a bad precedent for the government's plans to next year transfer more authority to local governments in managing their resources and budgets. Separately, a group of Newmont Minahasa workers Wednesday demanded that parliament abrogate the court ruling.