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MSC profits rise sharply in 2016

Post By: Tom Mulqueen on Friday, 26 May 2017

Malaysia Smelting Corporation (MSC) has revealed a 1,400% year-on-year increase in profit before tax to RM49.5 million (~US$11.6 million) in 2016, largely as a result of improved tin prices compared to 2015. The group's revenue was broadly stable at RM1.5 billion in 2016 as refined tin production fell by 11.3% to 26,802 tonnes.

At MSC's Rahman Hydraulic open-pit tin mine, all processing units operated throughout 2016 at near full capacity to produce 2,228 tonnes of tin-in-concentrate. Management is...

Korea stockpile makes first purchase of 2017

Post By: Tom Mulqueen on Wednesday, 24 May 2017

South Korea's Public Procurement Service (PPS) bought 200 tonnes of 99.9% Indonesian tin from Daewoo at its latest tender on 23 May, including 100 tonnes at 400ppm lead at a US$480 cif premium to the LME price and 100 tonnes of 100ppm low-lead tin at a premium of US$580. 

The purchases represent the first two tenders held by PPS in 2017. PPS is a state organisation providing a purchasing and stockpiling service for small and medium-sized enterprises in Korea, The organisation...

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