Mining Weekly reported that only three Indonesian tin companies meet new export regulations, which will come into effect in November.
As quoted in the market news:
Indonesia halted tin exports in August due to rules aimed at cracking down on environmental damage and smuggling, as well as enforcing royalty and tax payments, but smelters ramped up exports in September ahead of the latest changes.
Benchmark tin prices have so far failed to react to the stop-start exports, and are down 21% this year amid a broad downturn in demand growth for metals. From November 1, all exporters of tin from Indonesia, which had about 22 registered tin sellers earlier this year, must obtain so-called “clean and clear” (CnC) certification.
“Three companies,” Jabin Sufianto, president of the Indonesian Association of Tin Exporters said in a text when asked how many companies would be able to export from next month.