Timah projects tin production to be lower next year

Tin producer PT Timah Tbk said it expects its tin production to total only 50,000 tons next year, lower than 60,000 tons forecast for this year.

?We would only be able to produce 50,000 tons of tins next year,? said President Director of Timah, Wachid Usman, on Monday.

Wachid said it will meet commitment to deliver 8,000 tons for the remaining of this year, in line with contracts. He admitted Indonesia supplies about 30 percent of world tin consumption.

Following the Greece crisis, tin price on the London Metal Exchange (LME) has dropped to US$17,000 per ton, prompting Timah and other Indonesian tin producers to halt tin exports to push up tin world price. ?If tin price rebounds to US$23,000, we will resume exporting tin again,? said Wachid. (godang)