Tongkah Harbour has called on the government to speed up the granting of mining licences for its tin mine. The tin mine project has got approval of its Environmental Impact Assessment and a public hearing is currently being held with local communities. For full story, click here
Tin was at $US10,350 from $US10,300, having lost 3.3 per cent in the first quarter. For full story, click here
Cash tin at the Kuala Lumpur tin market reported to have closed at US$10,200 a metric ton Monday, unchanged from the previous day. Traded volume totaled 54 tons. For full story, click here
It is reported that Malachite’s Swinton Tin Prospect has expanded the size of the anomaly and surged the tenor of the results, with the maximum tin value in the soil now as high as 0.41% tin. A substantial tinbearing stockwork vein system is thought to underlie the soil anomaly. For full story, click here
With the tin price dipping nearly $US1600 a tonne since May last year, there aren’t many miners out there starting new operations – but a North Queensland company is bucking the trend. For full story, click here
A mining company is reported to take on reviving process of the state’s tin industry by investing an initial RM5mil to search for hard rock tin deposits in Pengkalan Hulu. For full story, click here
Perak DAP chief Datuk Ngeh Koo Ham criticised the move by the Barisan Nasional state government in allocating 14,000ha of land to a sole company to revive the Perak tin industry by naming it monopolistic. For full story, click here
Nearly 14,000 hectares in Pengkalan Hulu have been identified for minerals and tin ore prospecting. Minerals and Geoscience Department director-general Datuk Yunus Abdul Razak said: Prospecting work will start as soon as the company received the licence from the state government. For full story, click here
It is reported that the cost of cans could rise by between 35% and 40% in April 2009 after ArcelorMittal South Africa announced that it would increase the price of tin plate steel by almost 80% to its customers. For full story, click here
It couldn’t have come at a better time. Sentiment on the LME metals complex is still trapped between the conflicting signals coming from East and West, resulting in choppy, consolidatory price action. However, downside momentum has stalled across the board with predators now looking for “relative value” plays.
Tuesday, March 31, 2009