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,...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...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...Timah hopes to boost production in 2012
Indonesia’s state tin company PT Timah aims to boost its tin production to 40,000 – 42,000 tonnes this year, corporate secretary Abrun Abubakar told the Jakarta Post. The company has not yet officially released final 2011 production data, with estimates ranging...PT Timah to order more large dredges
State-controlled Indonesian tin producer PT Timah said it will order two new generation dredges worth around US$100 million this year, the Antara news agency reported. The two bucket wheel dredges are due to be operational in 2014 said Wachid Usman, Timah’s...More details on planned Indonesian tin contract
Four big commodity traders and three Indonesian tin producers are readying to trade a soon-to-be launched physical contract for the metal, a trade ministry official told Reuters, offering hope the new contract will secure enough liquidity to make it a success....
