MSC halts tin mining and smelting operations

MSC halts tin mining and smelting operations

Company expects its bottom line to be impacted by the closure due to lockdown.

Malaysia Smelting Corporation has told its clients that it will be unable to fulfil its contractual obligations for the time being. (MSC pic)
KUALA LUMPUR:
Malaysia Smelting Corporation Bhd (MSC) has temporarily suspended its tin mining and smelting operations from June 4 to June 14 in adherence to the enforcement of the full movement control order 3.0.

In a filing with Bursa Malaysia today, the company said this temporary suspension is expected to have an impact on its operations and financial performance for the financial year ending Dec 31, 2021.

However, the company is unable to ascertain the extent of the impact at this juncture.

MSC said it has also issued a notice of force majeure to its customers as the disruption in production would lead to a slowdown in its scheduled delivery of tin metal.

Force majeure is when a party is unable to fulfil a contract due to unforeseeable circumstances.

“Pursuant to this, all contractual obligations are immediately suspended.

“The company will notify the customers of the termination or cessation of the force majeure notice as soon as we are able to resume the level of operations that will enable MSC to meet its contractual obligations,” it added.

Stay current - Follow FMT on WhatsApp, Google news and Telegram

Subscribe to our newsletter and get news delivered to your mailbox.