PT Timah (Persero) Tbk, Indonesia’s largest tin producer, is planning to increase its offshore mining deposits. The company’s Offshore mining may account for 60% to 70% this year. It is also forced to reduce sourcing tin ore from its onshore mines in Bangka-Belitung islands, Indonesia’s main source of tin.
President Director Wachid Usman is quoted saying:
“We’re [...]
An increase in shipments of Indonesian refined tin exports reported in April was partially the result of a return to more favorable weather conditions from the first three months of this year.
Indonesia has approved an export permit for a new tin smelter, bringing the total number of smelters allowed to 30.
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Indonesia’s PT Timah Tbk, the world’s leading integrated tin miner, declared that it may boost spot sales if tin prices climb to $18,000-$20,000 per tonne after a slip in sales earlier in 2009.
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Indonesia’s refined tin exports dipped an estimated 22.5 percent in April due to slow demand, and shipments are likely to stay weak as producers consider tin prices are still too low.
Alberth Yusuf Tobogu, director of mining product exports, stated:
Tin exports in April were down because overall demand for the metal was weakening.
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Indonesia’s PT Asia Natural Resources announced its plans to export 400 tpm of refined tin to Singapore from July.
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As per reports given by Energy Ministry, Indonesia’s tin output may not touch 90,000 tonnes this year amid slowing global demand.
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According to estimates released Tuesday by the trade ministry, Indonesia’s refined tin exports in March surged almost 30% on month to 11,086 metric tons.
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Indonesian police have stopped four dredging vessels owned by tin miner Timah and its partners from operating and this could affect firm’s tin production.
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Indonesia will start next week the trial of the head of the country’s second-biggest tin smelter over allegations that PT Koba Tin was involved in illegal mining in a protected forest.
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Tuesday, May 25, 2010