A leading Indonesian businessman has announced plans to set up a ‘consortium’ involving all tin producers in Bangka and Belitung in order to get maximum benefits from the commodity, local newspaper Bangka Pos reported late last week.
Tommy Winata, the chairman of the Artha Graha group, which is closely linked with the military and has businesses in various sectors, including property and banking, met the newly-elected governor of Bangka Belitung province, Eko Maulana Ali, and the province’s council speaker, Munir Saleh, to discuss the plan.
Tommy may take a stake in PT Koba Tin, which is currently owned 75% by Malaysia Smelting Corporation and 25% by PT Timah, as part of the consortium plan, and has also been in discussions with some independent smelters.
Last week several independent smelters made their first tin metal shipments since last October, amounting to some 600 – 800 tonnes in total. PT Koba Tin made its second shipment of some 500 tonnes under the new export licensing system at the same time.
