Timah dredging ship sinks, kills one

State tin miner PT. Timah Tbk reported on Thursday that one of its dredging ships sank in the waters of Riau Archipelago on Sunday night due to bad weather condition.

The company said in its July 12, 2007 report to the Jakarta Stock exchange that ship called Dendang was sunk while undergoing offshore routine maintenance. 13 workers were evacuated from the ship but one died on the way to shore and 2 were still unaccounted for, the company said.

Up until July 2, 2007, the ship has produced 300 tonnes of tin and was expected to produce another 300 tonnes in the second half of the year. The ship has book value of US$1.6 million and was insured to Marine Hull.

Timah said the loss of the ship would not affect its 2007 production target. (alex)