Timah Confirms Fall in Production -Shanghai Metals Market

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Timah Confirms Fall in Production

Industry News 10:27:12AM Dec 09, 2010 Source:SMM

Dec. 9 -- Indonesia's state-owned PT Timah said on Wednesday it saw production in 2010 at 40,000 tonnes, down from an earlier forecast of 45-50,000 tonnes. "Because of bad weather, with rain for almost the whole year, probably our output this year will only be 40,000 tonnes, or it could be less than 40,000. There is declining production from offshore and onshore mines due to rains," spokesman Abrun Abubakar told Reuters. The company said in October that it may fail to fulfil all its annual contract sales this year for the same reason. Timah produced 45,086 tonnes of refined metal last year, but output in the first three quarters of 2010 declined by 12% to 29,631 tonnes.

In another interview with Bisnis Indonesia, Abrun said that Timah’s capital spending plans of over Rp 800 billion (US$89 million) should be approved by commissioners and directors shortly. Spending will include the completion of construction of a new tin chemicals plant and bucket wheel dredges. Timah has not made public any forecasts of its own production in 2011, although a spokesman for the energy and mineral resources ministry said that total national production could increase to just over 95,000 tonnes next year.

 

Key Words:  Timah  tin 

Timah Confirms Fall in Production

Industry News 10:27:12AM Dec 09, 2010 Source:SMM

Dec. 9 -- Indonesia's state-owned PT Timah said on Wednesday it saw production in 2010 at 40,000 tonnes, down from an earlier forecast of 45-50,000 tonnes. "Because of bad weather, with rain for almost the whole year, probably our output this year will only be 40,000 tonnes, or it could be less than 40,000. There is declining production from offshore and onshore mines due to rains," spokesman Abrun Abubakar told Reuters. The company said in October that it may fail to fulfil all its annual contract sales this year for the same reason. Timah produced 45,086 tonnes of refined metal last year, but output in the first three quarters of 2010 declined by 12% to 29,631 tonnes.

In another interview with Bisnis Indonesia, Abrun said that Timah’s capital spending plans of over Rp 800 billion (US$89 million) should be approved by commissioners and directors shortly. Spending will include the completion of construction of a new tin chemicals plant and bucket wheel dredges. Timah has not made public any forecasts of its own production in 2011, although a spokesman for the energy and mineral resources ministry said that total national production could increase to just over 95,000 tonnes next year.

 

Key Words:  Timah  tin