ID :
10127
Mon, 06/16/2008 - 20:40
Auther :
Shortlink :
http://m.oananews.org//node/10127
The shortlink copeid
RI'S PLAN TO RESTRICT TIN PRODUCTION MAY AFFECT GLOBAL TIN MARKET
Jakarta, June 16 (ANTARA) - Indonesia's plan to restrict its tin production, if realized, will have an impact on the global tin market as research conducted by many institutions has shown global tin production is lower than demand, a tin mining executive said.
"We still do not know what the impact will be on PT Timah Tbk's performance, if the government restricts the country's tin production starting in 2009," Abrun Abubakar, corporate secretary of publicly-listed tin mining company PT Timah Tbk, said on Monday.
"Neither do we know what PT Timah's prodution ceiling will be. As far as we know, a regulation restricting Indonesia's tin production has not yet been issued," he said.
The government is expected to restrict the country's tin production starting in 2009 to control global tin prices. Indonesia is the world's biggest tin exporter and second biggest tin producer.
Director General of Mineral, Coal and Geothermal Energy at the Energy and Mineral Resources Ministry Simon Sembiring said recently the government planned to slash the country's tin production by 90,000-100,000 tons per year starting next year.
"If we produce and export large quantitites of tin, its prices can fall in the global market," he said.
Last year, PT Timah produced 58,000 tons while the production capacity of its tin ore smelting plant was 60,000 tons. Nearly 97 percent of PT Timah's production is exported
"We still do not know what the impact will be on PT Timah Tbk's performance, if the government restricts the country's tin production starting in 2009," Abrun Abubakar, corporate secretary of publicly-listed tin mining company PT Timah Tbk, said on Monday.
"Neither do we know what PT Timah's prodution ceiling will be. As far as we know, a regulation restricting Indonesia's tin production has not yet been issued," he said.
The government is expected to restrict the country's tin production starting in 2009 to control global tin prices. Indonesia is the world's biggest tin exporter and second biggest tin producer.
Director General of Mineral, Coal and Geothermal Energy at the Energy and Mineral Resources Ministry Simon Sembiring said recently the government planned to slash the country's tin production by 90,000-100,000 tons per year starting next year.
"If we produce and export large quantitites of tin, its prices can fall in the global market," he said.
Last year, PT Timah produced 58,000 tons while the production capacity of its tin ore smelting plant was 60,000 tons. Nearly 97 percent of PT Timah's production is exported
