Timah production declines 5% in first semester

PT Timah (Persero) Tbk Tin reported its ore production volume decreased 5 percent to 16,839 tons sn in the first six month compared to last year?s period of 17,701 tons sn with the refined tin production was also down 19 percent to only 14,984 tons.

The company?s quarterly report shows the sales of refined tin on the first half 2012 was 17,236 tons with price average at US$ 22,565 or 24% lower than US$29,541 in the same period last year.

?The highest refined tin price in LME on the first semester 2012 was $ 25,650/ton and the lowest was US$ 18,375/ton with the average price of US$ 21,791/ton,? the company said.

The company is seeking to boost offshore mining production by modifying and utilizing new type of dredge called Bucket Wheel Dredge (BWD) with better technology that would enable to mine deeper compared to existing Bucket Line Dredge (BLD) in order to support company management strategic plan of go offshore go deeper.

One unit of BWD will be ready to support the offshore operation by August 2012.

?Washing plant technology development is also implemented to enhance ore processing recovery to 99.5% in order to optimize associated minerals that have higher added value such as monazite, zircone and ilminate,? it said adding that the net income on first semester was Rp 336 billion.

Editing by Adianto P. Simamora