Timah finds new resources

By Romel S. Gurky

IDX-listed tin giant PT Timah Tbk said that it has found new resources from onshore and offshore exploration activities this year in Bangka Belitung Province and in Kundur, Riau Islands Province.

The company said in a statement Thursday that offshore exploration activities as of June of this year resulted in new resources including inferred resources of 4,660 tons, indicated 3,362 tons, and measured resources 9,932 tons, all of which in the form of alluvial deposits.

Meanwhile, from onshore exploration activities, the company said it found resources in the forms of both primary and alluvial deposits. Primary deposits include inferred resources of 63,081 tons, indicated 7,846 tons, and measured 4,974 tons. Alluvial deposits include inferred 19,324 tons, indicated 80 tons, and measured 219 tons.

The company said it deployed six drilling vessels to carry out the exploration works with total spending of Rp 75.78 billion.

Timah said that for exploration activities in July, it would deploy four vessels focusing only in Bangka Belitung.

Editing by Reiner Simanjuntak