Lack of exploration raises concerns over RI?s tin reserves

Petromindo

Lack of exploration activities, partly due to weak price environment in recent years, has raised concerns over the country?s tin reserves and future production, Kontan reported on Tuesday.

The paper said that according to the Geology Agency at the Ministry of Energy and Mineral Resources, Indonesia?s tin reserves currently stand at only around 587,803 tons.

The paper quoted Head of the Indonesia Mining Institute, Irwandy Arif as saying that the country?s tin reserves are in ?critical condition,? due to the lack of exploration activities. ?The reserves are estimated to deplete in 1.5 years,? he told Kontan.

He urged the government to issue new regulations to balance production with exploration in a bid to help maintain reserves.

Corporate Secretary of tin giant PT Timah Tbk Agung Nugoroho acknowledged the dire situation. He said that Timah?s reserves currently stand at about 360,000 tons. The company, he said, is preparing to carry out deep offshore exploration activities, moving away to the past onshore activities, to find new reserves. He did not provide further details.

Jabin Sufianto, Chairman of the Indonesian Tin Exporters Association, suggested the government to issue new regulation transforming illegal tin miners into legal operations to help better monitor reserves and production. ?The fear is that when tin reserves in Bangka Belitung are depleted, Indonesia will become tin importer,? he said. Indonesia is one of the world?s largest tin producers, and is the top exporter of the metal commodity.(*)