November 24, 2014 5:51 PM ET

Metals and Mining

Company Overview of PT. Koba Tin

Company Overview

PT. Koba Tin engages in the exploration and development of tin resources. The company was founded in 1973 and is based in Jakarta, Indonesia with an additional office in Bangka, Indonesia. PT. Koba Tin operates as a subsidiary of Bemban Corporation Limited.

Arthaloka Building

12th Floor

Jl. Jend. Sudirman

No.2

Jakarta,  10220

Indonesia

Founded in 1973

Phone:

62 21 251 1566

Key Executives for PT. Koba Tin

President Director
Age: 60
Manager of Finance and Information Technology
Director of Operations
Manager of Exploration and Development
Manager of Technical and Process
Compensation as of Fiscal Year 2014.

PT. Koba Tin Key Developments

Local Government And PT Timah Plans To Acquire Koba Tin

Bangka Belitung’s local government and PT Timah (Persero) Tbk (JKSE:TINS) is seeking to acquire PT. Koba Tin from its Malaysian partner. The local government plans to take a 60% stake, while Timah will increase its shares to 40% from 25%. “Their [Malaysian Smelting Corporation] contract expired a year ago. We are now in negotiations with Timah,” said Rustam Effendi, Governor of Bangka Belitung. He declined to disclose details on who will help fund the acquisition, but did reveal that the search for financial backing is ongoing. “We are open to receiving help from a locally owned company or a state-owned company,” Rustam said. “The decision is almost final. We [the local government and Timah] will meet to finalize the matter,” Rustam added.

MSCB Seeks Recourse over Termination of Tin Contract on Indonesian Islands

Malaysia Smelting Corp. Bhd (MSCB) intends to seek recourse with the Indonesian government on the termination of PT Koba Tin's contract of working (CoW)on the Bangka Belitung Islands. MSCB holds a 75% share in PT Koba Tin, with the rest held by PT Timah Tbk. PT Koba Tin will also consider other avenues to safeguard its interest.

PT. Koba Tin Receives Notification from Government of Republic of Indonesia for the Contract Extension

PT. Koba Tin has received notification for the extension of contract work which expired on March 31, 2013. In the mean time the GOI has given permission to the company to continue undertaking production operations until the completion of its evaluation up to a maximum period of three months effective from April 1, 2013.

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