Three executive directors of PT Koba Tin today pleaded not guilty to charges of making unauthorised tin ore purchases from small mines in Indonesia. Following a district court hearing in Sugailiat on Bangka island, the three were released pending a further hearing on a date to be determined.
In a statement Malaysia Smelting Corporation, which owns a 75% stake in Koba, said that it “has been advised by its legal counsel that the directors have a favourable chance of being acquitted of the charges.”
In the statement MSC also noted that no charges were made against the subsidiary company itself and re-iterated that it “is a responsible corporate citizen, operating within the legal parameters of Indonesian laws including paying of taxes and royalty for the export of tin from its leases.”
PT Koba Tin produced 20,930 tonnes of refined metal in 2006, but has cut its production to some 500 – 600 tpm since February of this year following the cessation of all ore purchases.
