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 [...]
Fired Earth, a high street store, has chosen Impress UK to supply the cans for its new range of paints they call the National Trust. Impress UK produces about 60 million tin cans for paints and coatings at its Norwich site every year. And this project will help them reinvent their business. Matt Sykes, UK [...]
Silver Standard Resources, a Vancouver based company has cut the production of tin in its Pirquitas mine in Argentina. The usual 900 tonnes previously forecast and a planned annual capacity of 2,500 tpy has been decreased to 400 tonnes. In a statement the company said that “the tin circuit is commissioned and will be operated [...]
Following major criticism over the increase of its tin-plate prices, which were adjusted yearly by 69% to 78%, ArcelorMittal South Africa (ACLJ.J) has toned down prices. The decision was welcomed by the packaging industry. But tin prices have yet to respond significantly to the fresh supply problems in Indonesia, which may be partly due to the strong recovery in Chinese production.
A police crackdown on illegal tin mining in Indonesia, including in Bangka-Belitung islands, has cut ore supplies. Analysts maintain the current crack down may not be as severe as the one in 2006, which halted tin production at small smelters for months, mainly because the government has tightened tin export rules. Moreover, PT Timah Tbk and PT Koba Tin, a unit of Malaysian Smelting Corp, were not affected by the crackdown.
Mr Mark Glyptis president of United Steelworkers Local 2911 declared that the future is bright for ArcelorMittal Weirton. He added that about 100 of those employees, 921 of whom are union members with 120 in management, are now voluntarily laid off, with another 11 involuntarily separated from employment in an effort to save global steel [...]
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.
Outback Metals is looking for production next year at Mt Wells in the Northern Territory. For full story, click here
Indonesia will cut a target cap on tin production this year to below a planned 100000 tonnes because of falling prices. For full story, click here
Many mining companies across all base metals have cut production at loss-making operations and delayed future projects as demand and prices have slumped. For full story, click here
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