Timah secures permit to develop tin mine in Myanmar

IDX-listed mining company PT Timah Tbk has obtained a provisional mining permit from Myanmar government to develop a tin mine in the country, Kontan reported on Saturday.

With the provisional permit which was issued by Myanmar?s energy ministry two weeks ago, PT Timah can now begin the preparation works for exploration activities in the tin mine in Pubyin-Tamok, Myeik District in the Tanithary state, PT Timah?s President Director Sukrisno said.

?We can then ask for recommendation from the governor and regent to get an exploration permit,? he said, adding that the company would invest about $18 million to develop the tin mine.

In the first stage, the coal mine is expected to produce 10,000 tons, which would turn PT Timah into the world?s largest tin producer. This year, PT Timah is expected to produce between 39,000 tons and 40,000 tons.

Meanwhile, sales are expected to reach 33,971 tons, almost at the same level with the sales figure recorded last year. During the first nine months of this year, PT Timah sold about 26,921 tons. (*)