PT Timah to export 30 thousand tons of tin

Pangkalpinang (ANTARA News) - Publicly listed state-owned tin mining firm PT Timah has outlined a target to export 30 thousand metric tons of the processed metal in 2017.

"We are optimistic of being able to achieve the target, as the national and global economic and political conditions have not had a significant impact on tin exports," PT Timah Corporate Secretary Sutrisno Tatetdagad stated here on Thursday.

He said the volume of its tin exports had declined in 2016, as there was an adjustment following the issuance of Trade Ministerial Regulation No. 33 of 2015.

The volume of its tin exports in 2016 was recorded at 21 thousand metric tons, down as compared to 30 thousand metric tons in 2015.

"Currently, the price of tin in the world market is US$19 thousand per metric ton or higher than that in the previous year," he pointed out.

Tatetdagad stated that exports in 2016 were relatively under control, as exports of the metal were tightened following the issuance of Trade Ministerial Regulation No. 33 of 2015 that necessitated companies to have Clear and Clean Certificates, obtain a pure tin ingot Registered Exporter Permit, and sell at the Indonesian Derivatives and Commodities Bourse.

Since the imposition of the trade ministers regulation, the volume of Indonesian tin exports ranged between 60 thousand and 65 thousand metric tons.

He remarked that in a bid to maintain stability in tin prices in the global market, PT Timah had been consistent in supporting the governments policy through the imposition of Trade Ministers Regulation No. 33 of 2015 to reduce the volume of metal exports to the global market.

"We will consistently gauge the global demand, so that the price of tin in the world market will remain stable," he added.(*)

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