Yunnan Tin to invest in Indonesian tin JV

Yunnan Tin Co Ltd, China's largest tin producer, said yesterday it will invest US$9.69 million in tin smelting and mining joint ventures in Indonesia, China Daily reported on Wednesday.

The company will invest $8.67 million in a $17 million tin smelting venture on Indonesia's Bangka island, in which it will hold 51 percent, the company said in a statement to the Shenzhen Stock Exchange.

KJP Investments (S) Pte Ltd will hold a 48.41 percent stake, and PT Bangka Global Mandiri International will hold the remainder, the statement said.

Tin materials in Indonesia will support Yunnan's 20,000 ton per year tin refinery in Singapore, the statement said. The plant began operations last June.

Yunnan will also invest $1.02 million for 51 percent of a second $2 million joint venture, which will mine tin and other ores on Bangka.(*)