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Timah's offshore drive continues


Offshore tin mining is contributing more to Indonesian state-controlled tin miner PT Timah's production, according to first half results released on Monday. January-June offshore tin-in-concentrate production rose by 28% year-on-year and contributed 52% of the company's total mine production of 17,588 tonnes. In the second quarter this share rose to 68%. However while mine output has risen from quite depressed levels in the first half of 2009, refined tin production increased only marginally to 19,501 tonnes in H1 compared to 19,378 tonnes in the first half of last year. Meanwhile refined tin sales fell by 18% year-on-year to 19,760 tonnes. The differing comparisons are mainly due to the fact that Timah ran down its stocks of metal, slags and concentrates last year.
 
In a statement Timah said that it will be adding five new cutter suction dredges to its fleet by the end of 2010 and also noted that it is part of its strategic plan to limit sales of standard grade tin in order to focus on higher quality metal earning higher premiums. "Timah is optimistic to meet the production target of 45,000-50,000 tonnes of refined tin by end of the year" a spokesman told Metal Bulletin.


Source : www.itri.co.uk, 31 August 2010
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