Timah to produce 35,000 tons of tin this year
Friday, February 2 2001 - 03:30 AM WIB
State tin mining company PT Timah Tbk. will maintain its tin output level at 35,000 tons this year, 95 percent of which will be exported, according to Timah president Erry Riyana Hardjapamekas.
Erry said on Thursday that Timah would not increase its tin production this year because the international tin market was not yet conducive, following allegedly dumping practices by China tin producers in the international market and therefore many tin buyers were now turning to China.
He noted that China sold its tin at $4,000 per ton, far lower than the normal international tin price of $5,000 per ton.
"Nevertheless, the current tin prices are still good, staying above $5,000 per ton," Erry said after receiving ISO 14001certificate at Timah headquarters in Bangka, South Sumatra.
Erry said Timah relied on local partners, and would continue to rely on them, to mine tin ores from onshore mining pits, while for offshore mining, Timah still did it by its own vessels. Currently, offshore mining activities contributed about 50 percent of Timah's total tin output. (*)