Illegal mining threatens international tin market<\/p>\n
Thirty thousand freelance tin miners have taken over a
\nmineral-rich island in Indonesia and are threatening an
\nenvironmental crisis while seriously damaging the commercial tin
\nmarket, the world's largest tin producer warned last Thursday.<\/p>\n
PT Timah told an industry meeting in London that appeals to
\nthe Jakarta authorities to put a halt to the operations had
\nfallen on deaf ears.<\/p>\n
The price of tin has plunged on world markets from US$4,900
\nper ton to below $3,680 amid reports of illegal output in
\nSoutheast Asia.<\/p>\n
Industry suspicions were confirmed by PT Timah officials who
\nwere in Britain for London Metals Exchange week.<\/p>\n
They estimate that Bangka island's unlicensed miners could be
\nproducing nearly one third of all new tin flooding on to the
\nmarket.<\/p>\n
Anthony Turner, who represents the world's second largest tin
\nmining group Minsur of Peru, said: "Major producers are deeply
\nconcerned about these illegal activities which are causing
\nextreme environmental damage while having a severely depressing
\neffect on tin prices."<\/p>\n
Paul Atherley, managing director of another precious metals
\ngroup, Murchison United, said: "We operate at the Renason Bell
\ntin mine in Tasmania to the highest standards of environmental
\ncare and health and safety. Actions in Indonesia are making it
\nvery hard to reinvest for the future."<\/p>\n
The industry believes that problems on Bangka stem from the
\ndevolution of power from Jakarta to the regions and regulations
\nimposed by central government being ignored by local authorities.
\n--Guardian<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/illegal-mining-threatens-international-tin-market-1447893297",
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"sponsor": "Okusi Associates",
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