For decades the tin market has moved from one crisis to another, and the current world recession is now raising new challenges for all stakeholders in the industry. In the short-term the market is again oversupplied, but in a few years the situation could change dramatically. Though global demand for tin has fallen rapidly to an estimated 350,000 tonnes in 2008, the 15 tin companies listed on the ASX are doing extremely well. Check out an overview.
State-owned mining companies Comibol and Huanuni will invest $40 million to build a new plant that will allow Bolivia to more than double its tin output. For full story, click here
Few tin smelters in Indonesia, the world’s top exporter of the metal, will be able to crank up output to exploit higher prices because wet weather and depleting reserves have crimped access to ore. Patris Lumumba, director of PT Bangka-Belitung Timah Sejahtera, stated: It’s getting more difficult now to mine tin because reserves are depleting. [...]
PT Timah declared that it may produce less tin than forecast this year if prices stay low. Mr Abrun Abubakar corporate secretary of PT Timah stated: We may produce within a range of 45,000 to 49,000 tonnes in 2009, reiterating an earlier forecast. Still, if prices remain low, we may cut production further. For full [...]
Even as stockpiling in China is set to raise the bar for the price of tin, miners in Peru may go on strike on March 15, which could bring on some pressure. Queensland Small Miners too have blamed the government for not adequately supporting small miners.
Indonesia sees production of tin to rise by 47% in 2009 to 105,000 tonnes despite a plan by authorities to cap output below 100,000 tonnes. For more information, click here
Indonesia’s 2009 tin output is projected to increase 47 percent from last year to 105,000 tonnes. For full story, click here
Many existing producers have shut down or curtailed output at mines and plants as high costs and low prices bite. For full story, click here
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