PT Timah cuts production

State tin miner PT Timah is reducing its production from 39,000 tons of tin last year to around 35,000 tons this year because of rampant thefts of its tin sands, Bisnis Indonesia said on Thursday.

"For the time being, we deliberately reduce PT Timah's production. Otherwise, our losses (from the thefts) would even be greater," Timah president Erry Riyana Hardjapamekas said. But he did not mention how much the company lost from such rampant theft.

He said the company targeted to collect US210 million in revenues this year, assuming that tin prices remain at $6,000 per ton. (*)