The share price of PT Timah has increased as PT Koba Tin, another tin mining company in Indonesia, has interrupted its operation.
The Chief Operating Officer Malaysia Smelting Corp Lai Fook Hoy said that Koba Tin has stopped its operation on January 30 this year, and it will be for long time, as the three directors of the company have bought illegally mined iron ores.
Good news for Indonesia and PT Timah
The government has issued such regulation as the illegal mining on tin has been uncontrolled and it has been endangered the environment. Apart from that, the new regulation also has regulated that the exported tin shall be with the tin content of 99.85%.
Indonesian export of tin bricks during the first nine months of 2006 was US$163 million, down from US$903.8 million in the previous year.
Wednesday, February 21, 2007
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1 comment:
watch out, people! yosef ardi's blogs is about to have a new competitor!
asalkan si munir dah mencatat baik-baik login blognya. usul: kasih judul "Indonesia this day."
hehehe...
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