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 when [...]
The metals markets got a surge of heat with world leaders committing $1.1 trillion to combat global recession. Tin was up at $10,950 a tonne, its highest since March 11, from $10,450.
Normally, tin doesn't get a lot of attention. The lowly, non glamorous tin is becoming increasingly important however, overtaking lead as the metal of choice in modern electronics soldering, especially after EU regulations requiring lead-free solders was implemented in 2006. In 2006, tin accounted for 50 per cent of solders; in 2007, that market share grew to 52 per cent.
The world’s leading tin miner, PT Timah has announced it may restrict refined tin production in an attempt to counteract falling prices. PT Timah’s production curbs are representative of a growing trend in Indonesia. Tin smelters across the nation are halting production.
Tuesday, May 11, 2010