Mou TINS-Yunnan Tin Group itself is part of a series of activities of Asia Tin Week which has been going on since Tuesday, September 12 last. Approximately 300 world tin players meet in Kunming, China to follow Asia Tin Week 2017. As one of the largest tin producers from Indonesia, PT TIMAH (Persero) Tbk (TINS) became one of delegates in a forum organized by the International Tin Reserch Institute (ITRI ). ATW 2017 will end Friday, September 15th.
A number of strategic issues are discussed in this year's Asia Tin Week, one of which is the potential for significant changes in the tin industry as global uncertainties and protectionist sentiment rise. In addition, the Chinese government has scrapped its export duties for refined tin and is considering allowing trade in tin concentrates.
In recent months, tin prices have generally stabilized between US $ 18,500 - US $ 21,000, but some supply-side reforms in China continue to impact metal production. It is also expected to have an impact on the world's tin industry. Tin demand and prices are also expected to be affected in the medium term by global economic and financial developments.
Bangka Belitung Governor Erzaldi Rosman Djohan and Managing Director of TINS M. Riza Pahlevi Tabrani became speakers in ATW 2017. In his speech, TINS president director said the company he leads today is continuing to develop tin mining technology in an effort to consistently locate and maintain material supplies.
Riza said the performance of TINS is sped up thanks to a good operation strategy, including with the discovery of new resources and reserves, both in land and sea areas and improvement of partnership management system.
The Director of Operations TINS Alwin Albar also explained the existence and projection that TINS has and will do. In front of hundreds of delegates, Alwin also explained the progress of mining and reclamation activities that have been done by his side. In addition to the Director and Director of Operations, TINS delegation was also attended by PT Timah Industri Purowoko, General Manager of Babel Sadina, Corporate Secretary Amin Haris Sugiharto, Marketing Chief Ria Pawan and others.
Asia Tin Week is organized by the global tin association, International Tin Reserch Institute (ITRI). Asia Tin Week is currently the 5th ITRI event held in China after Hangzhou (2011), Kunming (2013), and Shanghai (2015, 2016). In addition to market-oriented, ATW is also a platform for world tin players to interact with each other and develop the network.
As the data has been published, TINS recorded a positive performance in the first half of 2017. The state-owned mining company is able to increase its profit from minus Rp32.88 billion in the same semester of the previous year to Rp150.65 billion. This 5.5-fold increase puts TINS as one of the mining issuers with an attractive prospect in 2017.
TINS's positive earnings performance is also supported by improved operational performance and financial performance. For operational performance in the first half of 2017, TINS was able to record an increase in tin ore production by 16,078 tons, up 76.52 percent from 9.108 tons in the same period last year. Tin production rose 56.56% to 14,905 Mton compared to the first half of 2016 of 9,520 Mton. The sales of tin metal recorded 14,404 Mton or up 23.30% over the same period in 2016 amounted to 11,682 Mton. *