Following the breakdown of the export halt called by Indonesian Tin Association at the start of this month, two leading officials have left the group. Rudy Irawan, president director of smelter PT Mitra Stania Prima, has been removed as the group’s executive chairman after a disagreement over the establishment of an Indonesian physical tin market, Hidayat Arsani, president of the ITA, told Bloomberg today. Johan Murod, the former general secretary at the tin association, had previously resigned his position after some members broke the agreement to suspend exports.
In recent weeks there has been considerable confusion about the start date and other details of the workings of the proposed Indonesian tin market. The market is planned as a partnership between the ITA and Indonesia Commodity & Derivative Exchange (ICDX) and is now due to start operation on 12 January 2012.