PT Timah resumes spot sales
PT Timah has restarted spot sales after the recent surge in tin prices, according to President Director Sukrisno, reversing a decision to curb supplies after less than a month. Its total sales may rise to 36,000 to 37,000 tonnes this year Sukrisno told Bloomberg News....Many Indonesian private smelters closed
A Bloomberg report yesterday carried further news of smelter closures by independent smelters In Indonesia, citing the impact of low prices. The big post-Ramadan Eid al-Fitr holiday which began at the weekend is also an important factor not mentioned in the article....MSC reports difficult quarter
Malaysia Smelting Corporation reported a pre-tax loss of RM 75.0 million (US$24.2 million) in the second quarter, mainly due to problems at its 75% owned Indonesian subsidiary PT Koba Tin. Koba made a loss of RM 68.9 million in the quarter and cut production by 50% as...Indonesian shipments down again
Preliminary trade ministry data shows that Indonesian tin metal exports fell again in July. The volume of tin checked prior to export amounted to 8,298 tonnes, down by 10% compared to July last year and 14% compared to the previous month. In the first seven months of...Indonesian producers trim sales and production
State-controlled producer PT Timah has halted spot sales in reaction to lower tin prices while some private smelters have halted production, according to several reports this week. “For now we are not selling on the spot market and are only fulfilling long-term...PT Timah reports lower production and profits
Although its tin production picked up in the second quarter after the usual seasonally weak start to the year, profits reported by Indonesia’s state-controlled tin company PT Timah slumped, mainly due to lower tin prices. Timah reported a net profit of Rp128...Doubts over Koba contract extension
A senior government official told the Jakarta Post that the contract of work under which PT Koba Tin operates is unlikely to be extended beyond the current expiry date of 31 March 2013. Energy and Mineral Resources Ministry’s minerals and coal director general,...Indonesian exports up and down
Preliminary data indicates that Indonesian tin metal exports in June were up 23% compared to the previous month but down 11% compared to June last year. Trade ministry statistics released today show that 9,647 tonnes of tin was inspected prior to shipment by surveying...MSC plans further reduction in Koba stake
Malaysia Smelting Corporation has announced changes to a strategic alliance with an Indonesian group which could result in its shareholding in PT Koba Tin falling from 75% to 30%. The proposed deal with Optima Synergy Resources Limited was originally announced in...
