Timah waiting for exploration permit in Myanmar

By Rikordias D. Siahaan

IDX-listed tin miner PT Timah Tbk is waiting for exploration permit from the Myanmarese authorities for its concession in the country.

Timah has bagged a principal permit for 10,000 hectares, but already submitted another proposal for concessions over 18 blocks with a total size of 180,000 hectares.

"The concession in Myanmar will bring significant prospect for our tin reserve, and we have posted two staff in the country to monitor the progress everyday" said Sukrisno, President Director of Timah to Petromindo.com.

Meanwhile, Sukrisno said Timah will limit its 2014 production at no more than 30,000 tons. "We want a better selling price. Therefore, we put a quota on production" added Sukrisno.

Apart from tin mining, Timah has been diversifying its business to other sectors such as coal mining and property. It is also building an intermediate tin plant in Cilegon, Banten.

In coal mining, Timah already bought a 10 percent interest in a coal concession in Sekayu, South Sumatra. Sukrisno said the firm wants to raise its ownership in the coal mine to 80 percent.

Editing by Johannes Simbolon