PT Timah sets lower output of tin ingots<\/p>\n
SINGAPORE (Dow Jones): Indonesia's PT Tambang Timah plans to
\nproduce around 33,000-36,000 metric tons of tin ingots in 2001,
\ncompared with 35,000 tons in 2000, a company official told Dow
\nJones Newswires on Monday.<\/p>\n
A downward trend in production is possible because the world
\ntin price \"has been declining for the last three, four years,\"
\nsaid the company's corporate secretary, Prasetyo Saksono.<\/p>\n
Saksono said that last year, the price of tin hit $5,000\/ton,
\nits lowest level in the past few years.<\/p>\n
At 1022 GMT, benchmark three-month tin futures on the London
\nMetal Exchange was quoted at $5,165\/ton.<\/p>\n
Saksono said Timah will release its full-year operation
\nresults Tuesday.<\/p>\n
The world's single largest tin producer's production capacity
\nis 45,000 tons a year.<\/p>\n
Saksono said the company will continue suspension of its
\nexploratory activities for gold in the eastern and western parts
\nof Kalimantan for at least three months for security reasons.<\/p>\n
The company started its exploration mostly for gold in
\nKalimantan in 1996, but suspended all activities in May 1999 as a
\nresult of ethnic clashes between indigenous Dayaks and minority
\nMadurese.<\/p>\n
Saksono said when the suspension occurred, some projects were
\nalready in an advanced process. However, he couldn't immediately
\nprovide the amount the company has invested in the projects.<\/p>\n
The conflict followed the Indonesian government's relocation
\nprogram for the Madurese to the region, which lasted from the
\n1960s until last year. The government's effort was intended to
\nrelieve overcrowding on Madura.<\/p>\n
The Dayaks claim the Madurese immigrants pushed them off their
\ntraditional lands and stole their jobs in the region's gold, tin
\nand copper mines. They also complain of receiving an inferior
\neducation.<\/p>\n
In the most recent violence, still ongoing, Indonesian
\ngovernment officials were quoted in news reports as saying the
\nbody count from eight days of killing stood at 270, nearly all
\nMadurese.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pt-timah-sets-lower-output-of-tin-ingots-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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