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Reuters reported Malaysia Smelting Corporation will stop operations at its tin unit.
Reuters reported Malaysia Smelting Corporation will stop operations at its tin unit.
As quoted in the market news:
Malaysia Smelting Corporation will suspend mining and smelting operations at its majority-owned Indonesian tin unit to stem losses from lower prices and slowing Chinese demand ahead of the expiry of a work contract, the company said.
MSC’s decision to halt operations at PT Koba Tin precedes the expiry next March 31 of its mining contract, or contract of work (CoW) for the unit, which is 75 percent owned by MSC and 25 percent by Indonesia’s largest tin miner, PT Timah.