Indonesia’s trade ministry has awarded an export licence to CV Justindo and revoked a permit held by an inactive shipper, Alberth Yusuf Tubogu, export director of mining products at the ministry told Bloomberg.
The government on July 30 issued the permit to the closely-held smelter, based in Bangka Belitung province, Tubogu said by phone in Jakarta today. A licence held by PT Bangka Global Mandiri was revoked on July 27 because the company had not exported for more than three months and no longer owned a mining concession, he said.
The latter smelter was established as a joint venture between Yunnan Tin Company, KJP International (the joint owners of Singapore Tin Industries) and a local bank in 2007, receiving its licence in November that year. It was a large operation with a nominal capacity of some 12,000 tpy and slag treatment facilities, but failed to secure sufficient supplies of raw materials and was hit by the financial collapse of STI last year.
