Poor first quarter results for Paranapanema
Brazil’s largest tin producer Paranapanema reported a consolidated net loss of 44mn reais (US$22.5mn) for the first quarter of 2007, versus a net profit of 9mn reais in same-period 2006. The losses were mainly due to problems in copper, and higher tin production...
New threats to Bolivian production
Workers at Empresa Metalúrgica Vinto (EMV) tin smelter are due to meet today to consider renewed strike action in support of demands for productivity bonuses, according to BN Americas. A strike last month was ended when the government promised to evaluate...
Vinto may switch to contract sales
Four companies are reported to have bid in a second tender for refined tin from Bolivia’s Empresa Metalúrgica Vinto (EMV), the results of which are due to be announced today. 800 tonnes of refined tin are on offer this week, following the sale of 1,700...
YTC confirms Indonesian investments
Yunnan Tin Company Ltd confirmed last week that it will invest US$9.7 million in two ventures in Indonesia. $8.7 million will buy a 51% share in a $17 million smelting venture with Singapore-based KJP Investments (48%) and local partner PT Bangka Global Mandiri. KJP...
Koba directors look for acquittal
Three executive directors of PT Koba Tin today pleaded not guilty to charges of making unauthorised tin ore purchases from small mines in Indonesia. Following a district court hearing in Sugailiat on Bangka island, the three were released pending a further hearing on...
Chinese exports dip in April
Chinese exports of refined tin fell from 4,538 tonnes in March to 3,167 tonnes in April, according to newly released customs figures. However the April figure was still 146% higher than in April 2006. Exports in the first four months of the year amounted to 11,246...
Vinto problems mount
Tin production at the Vinto tin smelter in Bolivia fell from 966 tonnes in March to only 390 tonnes in April, according to Metal Bulletin. The slump in output follows the forcible nationalization of the plant in February. A mining ministry spokesman attributed the...
WBMS reports fall in Q1 tin demand
Preliminary statistics on apparent refined tin consumption released by the World Bureau of Metal Statistics (WBMS) today show a fall in global demand to 86,800 tonnes in January-March, 5% less than in the same period of 2006. Although demand in Europe and China was...
Tin escapes Chinese export tax
Refined tin was not among a long list of steel and base metal products on which export taxes were introduced yesterday, although tin scrap will be subject to a 10% duty from June 1. China’s Ministry of Finance announced 5% or 10% taxes on a wide range of metal...