Koba Tin to rent out assets

Tin mining firm PT Koba Tin will rent out its assets such as smelter and office building in Bangka Belitung after its contract over a tin concession on Bangka Island in the province expired in 2013.

Director General of Mineral and Coal R. Sukhyar said Thursday that Koba Tin had requested for the assets to be leased out to PT Timah Bemban Babel, which now holds contract over the Bangka Island tin concession.

IDX-listed ting giant PT Timah Tbk owns 60 percen tof Timah Bembang, while the remainder 40 percent is owned by the provincial administration and two local regency administrations.

Sukhyar said that the government would not intervene in the transaction process between Koba Tin and Timah Bemban. Koba Tin is 75 percent owned by Malaysia Smelting Corp Bhd, and 25 percent owned by Timah. (*)