MSC back in black
Malaysia Smelting Corporation recorded a small pre-tax profit of RM8.7 million (US$1.8 million) in the first quarter, following the loss of RM35.1 million in the fourth quarter of last year. However continuing losses at its PT Koba Indonesian operations have largely...Fall in Indonesian April exports
Provisional trade ministry data released today indicates a substantial fall in tin metal exports last month. The quantity of tin checked prior to export in April was 7,489 tonnes, 22.9% down on the same month last year and 4.9% lower than the 8,608 tonnes checked in...Timah production down in Q1
PT Timah reported a 41% year-on-year fall in net profit and a 20% decline in refined tin production in the first quarter of 2012. The state-controlled tin company said that net profit in the period was Rp 207.7 billion (US$23 million), with the positive impact of...Timah proposes reduced dividend to support investment plan
Indonesia’s state-controlled tin producer PT Timah is proposing lower dividend payments than normal at its annual general shareholders meeting, taking place on 19 April, in order to allow more investment in upgrading its production facilities. “From year...Indonesian tin volume slower in March
Refined tin shipments from Indonesia, the world’s top exporter, fell 4.9% in March compared to a year ago, mostly due to heavy rainfall, a trade ministry official told Reuters. The tonnage of tin metal checked prior to shipment in March was 8,608 tonnes,...No plan for Indonesian tax rise
Indonesia is not formally discussing a suggestion from the Industry Ministry to tax exports of coal and minerals Bloomberg reported, following interviews with government and industry officials. The clarification came following reports yesterday that the ministry was...PT Timah profits and production down in 2011
Indonesia’s state-controlled tin producer PT Timah reported a 5% fall in net profit last year, as a fall in sales volumes, higher production costs and higher tax payments offset the positive impact of higher world tin prices. Timah also attributed the decline in...New Indonesian foreign ownership rules could impact MSC
Indonesia’s move to limit foreign companies to no more than 49% equity interest in some of its mines could spell bad news for Malaysian companies with mining operations in the republic, the country’s The Edge financial daily reported. Indonesia’s...Indonesian exports stronger in February
The tonnage of tin checked prior to export in February rose 35% year-on-year to 8,325 tonnes, according to trade ministry data released on Monday. The rise followed a very low January figure and occurred despite usual poor monsoon weather. “Refined tin exports...
