Iluka completes sale of Koba Tin
Wednesday, April 10 2002 - 11:13 AM WIB
Iluka Resources Ltd has settled the sale of its 75 per cent take in PT Koba Tin to Malaysia Smelting Corporation Berhad.
The sale includes a $US13.7 million ($A26.22 million) cash payment and a deferred contingent component of up to $US6 million ($A11.48 million) over three years, based on LME tin prices.
Iluka said the cash component was adjusted by $US300,000 ($A574,162.68) to take into account tin stockpile movements.
PT Koba Tin operates tin mining and smelting operations on Bangka Island, Indonesia.(*)