Bangka tin deposits to last another 5 years

Bangka and Belitung still have 200,000 tons of tin ore reserves, enought to keep the state-owned PT Tambang Timah in operation for another five years.

The company could continue operation in the next five years if the price could stabilise at around US$4,000 per ton, its new president Thobrani Alwi said in Bangka off South Sumatra last weekend.

PT Timah, which accounts for 80 per cent of the country's tin output, reported losses late last year as a result of tin price fall in the world market.

Alwi, who replaced Erri Riana H. last month, however, said that the company could still post a net profit of Rp36.8 billion (US$3.68 million) under tight program of efficiency last year.

Erri said last year that the company could last only until March (last month) with monthly loss of US$50 million.

Erri, however, reversed his statement following improvement in the tin market early this year.(*)