Timah, Koba join Kuala Lumpur Tin Market
Thursday, June 5 2003 - 08:54 AM WIB
Tin mining companies PT Timah Tbk and PT Koba Tin have become members of the Kuala Lumpur Tin Market, the KLTM said in a statement Thursday.
PT Timah is currently the world's largest tin mining company, producing 40,000 metric tons per year, while PT Koba, with an annual production of 18,000 tons is the second largest in Indonesia.
The two Indonesian companies, along with another KLTM member Malaysia Smelting Corporation Bhd., account for one third of global tin supply, KLTM said.
"It is expected that with the admission of these two major tin producers into the KLTM membership, trading volume on the KLTM will be further enhanced from the current average daily turnover of 50 tons," KLTM said.
KLTM currently has a total of eight members.(*)