Fri, 09 May 2003

Timah needs $20m for exploration

JAKARTA: State-owned tin miner PT Timah said it needed at least US$20 million for its exploration activity this year.

Timah president Thobrani said on Thursday that the planned exploration activities would be focussed on Karimun Island, Riau and Bangka provinces.

He said that the exploration program was crucial because Timah's tin deposit was projected to deplete within the next 10 years.

Timah, the world's largest integrated tin miner, said it would distribute a dividend of Rp 6.43 per share for the financial year 2002. -- JP