TINS’ Effort in Hoisting Global Prices

By Editorial Team 08/10/2019
Summary

State-owned miner PT Timah Tbk lowered tin export volume in a bid to spur global prices. TINS stock-coded company’s President Director Mochtar Riza Pahlevi, said the company issued a policy aimed at effectiveness and efficiency in operational costs, by cutting export volumes since July 2019.

TINS would put a further cut in export volume from 1,000 tons per month to 2,000 to 2,500 tons per month until the end of the year. Additionally, the company put a halt to production by stopping dredge operations. As for onshore mining, TINS ​​reduced work shifts from three to one shift. With the reduction in exports, TINS expects the global tin prices could rise to approximately US$ 20,000 per ton.

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