September 08, 2008

PT Timah to increase tin production in 2008

M Krishna Syarif finance director of Timah told reporters in Jakarta that Indonesia’s PT Timah plans to produce and sell 60,000 tonnes of tin in 2008.

According to reports by Bloomberg and Reuters, production in 2007 is estimated to be between 57,000 to 59,000 tonnes, although a separate story the Antara news agency quoted Mr R Sukyar commissioner of Timah predicting that a rise in production from 54,000 tonnes this year to 55,000 tonnes in 2008.

Timah is also planning capital spending of IDR 1.3 trillion (USD 140 million) in 2008, which will be used to both expand its tin reserves and diversify into coal and other businesses.