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PT Timah Reduces Tin Exports to Raise Prices

Metal News - Published on Wed, 09 Oct 2019

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ANTARA reported that state owned tin mining company PT Timah Tbk reduced its exports by 2,000 to 2,500 tonnes per month looking to raise the declining tin prices on the global market which has affected the national tin producer. President Director of PT Timah Tbk, Mochtar Riza Pahlevi, said that "We have indeed reduced our overseas sales as a response to the decline of tin prices.”

Mr Pahlevi stated that export reduction by 1,000 up to 1,500 tonnes per month has been carried out since July 2019. Currently, PT Timah will increase its export cuts by around 1,000 tonnes per month, bringing the total reduction in exports between 2,000 and 2,500 tonnes per month.

Mr Pahlevi said that "The current tin price is not yet favorable to us, especially considering what we have done as a mining company. This company has fulfilled all of its responsibilities regarding environmental issues, reclamation, business and human rights as well as community empowerment, starting from exploration to post-mining process. This is not to mention the mining sector which in its operations has various risks.”

Secretary General of the Indonesian Tin Exporters Association, Mr Jabin Sufianto supported PT Timah Tbk's plan to reduce its tin production and exports. The reduced production will impact the tin prices, given Indonesia's enormous role in meeting the demand of tin in the global market.

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Posted By : Rabi Wangkhem on Wed, 09 Oct 2019
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