Timah sets flat export target

IDX-listed tin giant PT Timah Tbk has set an export target of 20,000 tons for next year, or the same as this year?s target, as global tin market is expected to remain weak, Kontan reported on Tuesday.

The paper quoted Timah Corporate Secretary Agung Nugroho as saying that the company hopes tin price to start recover next year from the current less than US$15,000 per ton.

He added that if tin price in the export market remains weak, there?s possibility for the company to retain production as stock, rather than exporting it.

While waiting for price to recover, Timah, which operates a 332,580-ha onshore concession, and 184,400-ha offshore concession in Bangka Belitung, will continue business transformation by diversifying into other businesses, possibly including nickel and moving downtream by producing processed tin products. (*)