Koba Tin records significant production jump in Q3 2001
Wednesday, October 10 2001 - 08:33 PM WIB
Australian listed mining firm Iluka Resources said Wednesday tin production for the third quarter of this year from its subsidiary, PT Koba Tin that operates Tin mine in Bangka-Belitung province, increased to 3,915 tons compared to last year?s corresponding period production of 2,976 tons.
In its third quarter activity report to Australian Stock Exchange, Iluka also said that cumulative tin production from January to September 2001 stood at 11,298 tons, significantly higher that last year?s 9-month production of 7,824 tons.
Koba Tin had just announced its plan to fire 25 employees due to low tin price.
Koba Tin is 75 percent owned by Iluka Resources, Ltd of Australia and 25 percent by state tin miner PT Timah Tbk. (alex)