Timah targets 20,000 tons sales in H1

By Brigida Ernestina Elu Wea

IDX-listed state controlled tin mining company P Timah Tbk targets 20,000 tons sales in the first semester of this year as tin price is improving.

Timah?s Director Sukrisno said Timah?s sales and production until the end of the year is expected to reach 30,000 tons. The firm will not produce and sell above the level.

?We have the policy of putting sales on hold at the time the price is low. Now, the price has improved to the level of US$17,000 per ton. We shall thus release our output to the market, but the amount will not be higher than 30,000 tons,? Sukrisno said.

In 2015, Timah booked 27,431 tons in production, while sales reached 30,087 tons with an average selling price of 16,186 per ton.

Sukrisno explained that the firm?s offshore tin mine in Kelabat gulf resumed operation in February after being shut down since the early of last year. The offshore tin mine was shut down on the order of the local administration.

?Timah has several concessions either onshore or offshore. The Kelabat mine shutdown had little impact on us, because we still have other concessions. In end-February, (the local administration) revoked the shutdown order. Now, it has returned to normal operation,? Sukrisno said.

Editing by Johannes Simbolon