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.
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.
China’s top tin producer, Yunnan Tin has stopped production at its smelting facility. For full story, click here
China’s top tin producer, Yunnan Tin has stopped production at its smelting facility. For full story, click here
Yunnan Tin had stopped production at its sole smelting facility due to a decline in tin prices. This facility has capacity to produce 70,000 tonnes of tin output per year. For full story, click here
According to a government website, Yunnan will buy 100,000 tonnes of tin. The reserves will be kept for one year. For full story, click here
Get our independent commentary on tin trends and companies delivered to your inbox.
