Koba Tin directors acquitted of all criminal charges Release
date: 02 Aug 2007 The three directors of PT Koba Tin, a 75%
owned subsidiary of Malaysia Smelting Corporation Berhad (MSC), have been fully
acquitted of all charges by the District Court of Sungailiat in the Province of
Bangka Belitung. They had been charged with the collection of tin ore from
small scale miners operating outside its Contract of Work (CoW) area.
The judgment said that the three executive directors were free of all charges
and the rights, privileges status, dignity and integrity of the three directors
were respectively restored and their good names reinstated. The State would
bear all costs and charges related to the charge and all evidence returned to
PT Koba Tin.
The MSC board said that it was pleased with the judgment of the District Court
and, would like to reiterate that PT Koba Tin 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 and
undertaking the necessary environmental and rehabilitation works.
MSC acquired 75% stake in PT Koba Tin in 2002. PT Koba Tin operates under a CoW
issued by the Indonesian Central Government and covering a total mining acreage
of about 41,000 ha. The CoW has enough reserves to last until its expiry date
at the end of 2013.
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