Of 1ewmont¶s returns to remain in Suriname

*iven the current circumstances Suriname can e[pect to reap the benefits of the production of the 0erian gold mine located in the Nassau region within the ne[t years. ,t is e[pected that the investments for the opening of the mine will be paid back around that time and that the State will get an additional annual remittance of in ta[es. Together with the royalties and its share, of the company’s returns will remain in Suriname. This will be an estimated million. The proMections for

are that the treasury will receive an additional

million in royalties that will go straight to the )inance 0inistry. Staatsolie 0aatschappiM Suriname State Oil &ompany which has shares in Newmont Suriname on behalf of the State will receive million. +alf of this will be deducted to cover the costs for active participation. ³$t

a certain moment about

of the value of all of the company’s gold production will remain in Suriname. So royalties, shares minus the costs and

ta[es. , think that it is important to keep this in mind because we often hear people say that multinationals steal all the gold of take everything,´ $lbert 5amdin, e[ecutive at Newmont, told Times of Suriname. ³$ccording to this calculation more than two thirds will remain in the country,´ said the Senior Director of ([ternal 5elations at Newmont Suriname. 5amdin could not indicate e[actly when this will become a fact but he e[plained that given the current circumstances the moment is near. ³,t won’t take years. ,t could take to years. :e are Tuickly approaching that moment,´ said 5amdin who added that things will happen sooner if the price of gold goes up.