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Since Newmont’s Batu Hijau project is expected to be its top cash-flow generator in 2015/2016 as the company accesses the high grade core of the deposit, the threat is prompting caution from J.P. Morgan analyst John Bridges.

“This cash flow improvement has been a key advantage for Newmont compared with other large gold producers,” he told clients, lowering his rating on the stock to neutral from overweight and cutting his price target to US$26 from US$28. “What’s worrying is that the country has made the investment climate very uncertain and this will likely reduce new investment in the country’s mineral industry.”

Read more at: http://business.financialpost.com/2014/02/04/newmont-mining-corp-downgrade-on-indonesia-fears/