The Denver firm will pay an initial $12 million to cover monitoring and community development program costs and another $18 million over 10 years. The deal is part of an effort to resolve a long-standing controversy over pollution in Buyat Bay in Indonesia.

Newmont and the Republic of Indonesia will nominate a member to an independent scientific panel to develop and implement a 10-year environmental monitoring and assessment program. The agreement ends the government´s civil lawsuit against the company. The criminal prosecution of the case will continue, however.

Indonesia´s government accused Newmont´s subsidiary, PT Newmont Minahasa Raya, of polluting the bay. Newmont is holding its position that its operations did not pollute the bay or adversely affect the health of area residents.