Timah to export 95% of this year?s output

By Thomas Sembiring

Petromindo

IDX-listed tin giant PT Timah Tbk (Timah) plans to export about 95 percent of its tin output target this year of 30,000 tons.

?Our export (this year) will be around 95 percent, hopefully,? Timah President Director Riza Pahlevi said on Monday. He said that the company?s largest export markets are Asia and Europe, and a little to the US.

As has been previously reported by this portal, Riza said that Timah plans to increase tin production this year by 20 percent to 30 million tons from 25 million tons last year to meet growing global demand.

To facilitate the higher production target, Riza said that Timah will allocate Rp 2.3 trillion of capital expenditure this year, a 130 percent surge from Rp 1 trillion allocated last year. The capex will be used for increasing production capacity, and for renewal and maintenance of equipment.

Riza said that revenue this year is expected to increase by 10 percent from last year?s. Tin price is expected to stabilize at between US$20,000-$21,000 per ton this year, he added.

Editing by Reiner Simanjuntak