Koba Tin still waiting for CoW status
Monday, July 1 2013 - 03:36 AM WIB
SGX-listed Malaysia Smelting Corporation Berhad said on Monday that PT Koba Tin is still waiting for the decision of the Government of Republic of Indonesia ("GOI") concerning the application for extension of its Contract of Work (CoW).
PT Koba Tin's CoW for tin exploration, mining and smelting operations in Bangka Island expired on 31 March, 2013. The Company had on 2 April 2013 announced that PT Koba Tin had received notification from the GOI that it was still continuing with its evaluation of PT Koba Tin's CoW for a maximum period of up to three months from 1 April 2013 during which PT Koba Tin was allowed to continue undertaking production operations.
PT Koba had earlier submitted the application for up to 10 year extension of the CoW until the year 2023.
Editing by Adianto P. Simamora