Tambang Timah maintains target output<\/p>\n
JAKARTA (JP): Publicly listed tin mining company PT Tambang
\nTimah will not reduce its initial production target of 47,000
\ntons this year despite the drop in tin prices since early this
\nyear, the company said yesterday.<\/p>\n
Company president commissioner Haposan Silalahi said at the
\ncompany's headquarters in Pangkal Pinang, South Sumatra, tin
\nprices in international markets had decreased by an average
\nUS$500 per ton to about $5,600 per ton this year, compared to
\nlast year's prices.<\/p>\n
Based on the production target of 47,000 tons, Tambang Timah
\nwould lose Rp 50 billion ($19.2 million) in potential revenues
\nthis year due to the price drop, he said.<\/p>\n
"Still, Tambang Timah's workers need not worry about it.
\nInstead, they should make it a stimulus to improve the company's
\nefficiency in competition against other tin producers," Silalahi
\nwas quoted by Antara as saying.<\/p>\n
Tambang Timah, which claims to be the world's most competitive
\ntin mining firm, produces 20 percent of the world's tin. Ninety-
\nsix percent of its tin is exported to the United States, Europe
\nand Asia. Its mines are located in Bangka, Belitung, Karimun and
\nKundur islands in southern Sumatra.<\/p>\n
The company is listed on the local and London Stock Exchanges.<\/p>\n
Last year, it produced 40,337 tons of processed tin, 28,680
\ntons of which is branded Branka, 9,805 tons Mentok, 1,840 tons
\ntin anode and the rest tin alloys.<\/p>\n
It recorded the 10-year highest profit (before tax and
\n"special post expenses") of Rp 220 billion last year, a 33.7
\npercent increase from Rp 164.5 billion in 1995.<\/p>\n
Tin prices ranged between $5,800 and $6,200 a ton throughout
\nthe year.<\/p>\n
The tin price fell $22 per ton last week to 5,623 per ton at
\nthe London Metals Exchange (LME).<\/p>\n
Malaysia's tin prices, however, rose 18 U.S. cents a kilogram
\nto a new five and a half month high of $5.42 a kilogram
\nyesterday. But analysts believe the tin price rise was mainly
\nbecause the Malaysian ringgit continued to weaken against the
\nU.S. dollar, Reuter reported. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/tambang-timah-maintains-target-output-1447893297",
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