Indonesia’s Biggest Tin Producer Resumes Exports After Ban; Futures Slump
Bloomberg reported PT Timah (JAK:TINS) will resume exports after prices rebounded, withdrawing from a nationwide ban.
Articles Tagged "tin producer"
Production Cuts from Indonesia Boost Tin
Reduced tin production from Indonesia has had a big effect on prices for the base metal. Fearing that the high prices will encourage a wave of new production, Indonesia has stated that it will limit production to 100,000 tonnes, which could cause a larger supply deficit in 2011, boosting prices even higher.
Gippsland: Heemskirk Tin Project Drilling Update
Gippsland Limited (ASX:GIP) reports an update on the drilling at the Heemskirk tin project located north of Zeehan on Tasmania’s west coast. Drilling at the near surface Queen Hill deposit has confirmed continuity of high grade tin mineralization over potentially mineable widths. For complete news release, click here. For Gippsland’s company profile & projects, click here.
Tin Market Traces Recovery
Despite concerns over the euro-zone economy, demand in the region is helping to drive up the price of tin with both European and Japanese buyers dominating the market.
Indonesian Tin Exports Benefiting from Weather Improvements
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.
Tin’s Buying Support is Higher
Kuala Lumpur Tin Market (KLTM) will be on a stable condition since Malaysian and European buyers of tin will be active to trade above US$17,300 per tonne. One of the dealers is quoted saying: “The market was traded mostly lower this week, so we expect to see more buying support next week as prices are [...]
Tinplate Pre-tax Profit of (US$23 million)
The Tinplate Company of India Ltd has reported a (US$23 million) profit on pre-tax in the financial year to March 2010. The company is expecting a 379,000 tpy tin plate expansion by the end of 2010-2011 financial year. TCIL Managing Director Tarun Daga told a press conference, “Our company will continue its strategic thrust of [...]
Firms Merge/Split: Raise Money
Australia's Metals X and China's Yunnan Tin Group have announced that they had signed a Heads of Agreement to form a joint venture to control the MLX's Tasmanian tin assets. Meanwhile, Cadillac Ventures Inc, a junior Toronto mineral developer, says it has failed to reach a final agreement with Latin American Minerals Inc on the Tendal VMS zinc, lead and copper project in Argentina and has decided to scrap talks. Australian tin exploration company Consolidated Tin Mines Limited is to undertake a placement of 10 million shares to raise A$1million.
Buoyant Demand Pushes Up Tin Price
Malaysian tin jumped 7.5 per cent to score more than a 4-month high on Monday to US$ 12,080, as soaring London Metal Exchange prices and buoyant demand led by Europe boosted prices, one dealer said. The current price level was unseen since December 12, 2008. Tin price had peaked at $25,495/t in May 2008, but then slumped by more than 50 per cent in five months, due to the global financial crisis.
Tin Set To Shine – Early Signs of Summer?
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.
