My take is that a couple of Indonesian directors from the biggest tin firm Timah having their own crew mine tin rapacously* (and more profitably for them) and selling it back to Timah. Effectively Skimming.
The tin should have found it's way to users so I don't see how it has helped cause the tin tightness of stocks on the LME. Which is alleged everywhere. I think authorities did see the environmental damage caused though and put some bans in place. Personally, I think it comes out in the wash. Something like that was occurring in Malaysia before. To what extent management of MLX knew about it was/is stockpiling cash I don't know.
That's really just my read on the story as noted by bloomberg.
It's a systemically corrupt country at all levels. Seen in the method VP, Jokowi's son was parachuted in, by changing the law via his Son in Law the high court judge.
All IMVHO
* In that environmental damage it's little different to what they're being sponsored to do by the Chinese in Ni and thats apart from the greenhouse effect.
MLX Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
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