UPDATE: Newmont Mining Calls Off Arbitration with Indonesia
Newmont Mining Corp (NYSE:NEM) has called off its arbitration filing with the Indonesian government, signifying a resolution to the seven-month dispute is near.
Company officials confirmed on Tuesday the US-based miner had reached a “constructive solution” over Indonesia’s new mining laws.
"The decision to discontinue and withdraw arbitration comes after commitments from senior government officials to open formal negotiations to conclude a Memorandum of Understanding (MoU) with PTNNT (PT Newmont Nusa Tenggara) upon cessation of the arbitration claim," the company said in a statement.
"Signing of a MoU with the government would be followed by the safe ramp-up of copper concentrate production and exports from Batu Hijau."
In June, Newmont Mining suspended operations at its Batu Hijau mine, declaring force majeure after an agreement over the controversial export tax could not be made. The company filed for arbitration in July.
The new mining law requires miners to pay higher royalties and develop mineral-processing facilities locally, along with other concessions.
According to Bloomberg, Newmont will partner with Freeport McMoRan Inc. (NYSE:FCX)’s Indonesian subsidiary and participate in supply agreements with companies to process ore locally.
The relationship between Newmont and Indonesia has visibly been tested by the dispute. Newmont and Freeport argued they should be excused from the tax as they account for 97 percent of Indonesia’s copper output.
Freeport announced last month it would resume copper exports at its Grasberg complex after striking a deal with Indonesia, agreeing to pay the export tax which was reduced to 7.5 percent.
The government confirmed Newmont still needed to negotiate a MoU before exports could restart.
Ericsson Private 5G to transform secure on-site connectivity
Ericsson has launched Ericsson Private 5G. It offers secure and simple 4G LTE and 5G Standalone (SA) connectivity primarily targeting manufacturing, mining and process industries, offshore and power utilities, as well as ports and airports.
Ericsson Private 5G optimizes and simplifies business operations with cloud-based network management, keeps sensitive data on-premise, has zero downtime upgrades and guarantees high performance through Service-Level Agreements (SLAs).
It is easily installed within hours at any facility and can be scaled to support larger coverage areas, more devices and higher capacity when needed. The product is designed to be flexible and will support a range of deployment sizes, depending on requirements, to suit varied needs. Businesses can manage their networks and integrate with IT/OT systems via an open API.
Ericsson Private 5G builds upon Ericsson’s 4G/5G radio and dual mode core technology, enabling a wide variety of use cases for both indoor and outdoor environments while integrating well with business operations, devices and applications. As a result, companies can improve productivity, give their customers more value and provide better working environments for employees.
Innovative use cases include tracking assets and real-time automation to improve productivity in warehouses, and a digital twin that can help to optimize manufacturing operations. Efficient quality inspections can also be performed via augmented reality or smart surveillance drones to increase worker safety, particularly in potentially hazardous environments such as ports and mines.
Ericsson already has a significant track record of operational 4G and 5G private network deployments with customers worldwide. Ericsson Private 5G builds on the success of that solution portfolio and deployment insights, as well as insights from projects such as 5G-Industry Campus Europe.
Peter Burman, Program Manager Mine Automation, at Swedish mining company Boliden, commented: “Automation, and safety through automation in our mining operations is an absolute must for us. Ericsson Private 5G is exactly what Boliden needs to bring high quality, fast and secure connectivity into potentially hazardous environments allowing us to mobilize efficiency and safety improving use cases.
Niels König, Coordinator 5G-Industry Campus Europe, Fraunhofer Institute for Production Technology IPT added: “Private 5G networks are highly attractive for producing companies because of the uncompromised performance that 5G can bring, allowing them to tackle the challenges of production. Efficiently deploying and using network solutions in enterprises requires simplicity in installation, flexibility in connecting to existing production IT and lean operations while at the same time being able to scale the network to meet future challenges. Ericsson Private 5G delivers exactly these capabilities.”
Leo Gergs, Senior Analyst, ABI Research, noted: “With this new offering, Ericsson will be able to address key trends in the enterprise cellular market. The value proposition will appeal to operators and service providers as the solution hides technology complexity and therefore reduces the barrier of entry to deployment for many different flavors of enterprise networks.”
Thomas Noren, Head of Dedicated Networks, Business Area Technologies and New Businesses, Ericsson, revealed: “With Ericsson Private 5G, we take the best of Ericsson’s current portfolio and top it up with the best of our new technology. We do this to give businesses what they need to improve productivity, enable new offerings and give employees a better working environment. With Ericsson Private 5G, we also give operators a better way to serve business customers and leverage their assets - in short, to grow beyond mobile broadband.”
Ericsson recently joined a three-year initiative to develop autonomous, carbon-neutral mining processes supported by 5G connectivity. Funded by the EU’s Horizon 2020 research and innovation program, the $16mn Next-Generation Carbon-Neutral Pilots for Smart Intelligent Mining Systems (NEXGEN SIMS) project is being coordinated by Swedish mining and infrastructure equipment manufacturer, Epiroc, in cooperation with a range of industry-diverse partners, including: Ericsson, K+S, Boliden, Agnico Eagle Finland, KGHM Polska and Luleå University of Technology.