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Articles tagged with: Timah

Timah report improved financials for 2016

Post By: Tom Mulqueen on Wednesday, 01 March 2017

The Indonesian state tin company, PT Timah, reported a 148% increase in profits to Rp 251.97 billion (~US$18.9 million) in 2016, despite a fall in mine and refined tin production to 24,121 and 23,756 tonnes respectively, according to an official press release by the company.

While tin-in-concentrate and refined tin output both fell compared to 2015, the company had a particularly strong final quarter, with a 19% QOQ increase in mine output to 8,142 tonnes and a 20%...

PT Timah renews commitment to tin industry body ITRI

Post By: Tony Wallace on Tuesday, 28 February 2017

Indonesian tin producer PT Timah has renewed its commitment to the global tin industry association ITRI as a key step forward in its mission to be a leading mining company in a world increasingly driven by sustainability issues. Representing the world's major tin producers, ITRI is pleased to announce that PT Timah has reinstated its membership, renewing a long-standing industry partnership that is now ready to move forward together on a set of important initiatives.

"We are delighted to...

Timah production recovers in Q3

Post By: Tom Mulqueen on Monday, 31 October 2016

Indonesia's state-controlled tin company, PT Timah, has reported strong operational and financial results in Q3, aided by the rising tin price, although total production for the first 9 months of the year still lags behind 2015 levels.

Q3 mine production rose 9% year-on-year and by 20% relative to the previous quarter to 6,865 tonnes of tin-in-concentrate, primarily due to a doubling of production from onshore mining operations since Q2. Refined tin production fell 2% year-on-year to 6,475 tonnes, but...

Timah reports lower production and revenues in H1

Post By: Tom Mulqueen on Wednesday, 31 August 2016

The Indonesian state-run tin company, PT Timah, has reported a fall in production, stocks and revenue in its 2016 first half financial report, despite a reduction in costs and rise in average tin prices during the period.

The company reported that its first half production of tin ore from mine operations fell 37% to 9,107 tonnes compared to the same period of 2015, with onshore mining output falling 68% to 1,831 tonnes and offshore production falling 15% to 7,277 tonnes. Refined...

Timah cuts 2016 production forecast

Post By: Peter Kettle on Thursday, 04 August 2016

Indonesian state-controlled tin producer PT Timah will not meet its original production target of 30,000 tonnes this year. The company's corporate secretary, Agung Nugroho, told Reuters today that output is now likely to be between 24,000 and 27,000 tonnes this year. "Right now we are struggling with production," Nugroho said. However he expected that production will recover to more than 30,000 tonnes in 2017 as a result of the addition of new tin mining vessels and "improved communication with...

PT Timah production slumps in first quarter

Post By: Peter Kettle on Tuesday, 03 May 2016

Indonesia's state-controlled tin company PT Timah reported a sharp fall in its mine and refined tin production in the first quarter of 2016, although a drawdown in stocks allowed a small increase in its sales.

Production of tin-in-concentrates in Q1 fell by 49% compared to the same period of 2015 to an exceptionally low level of 3,405 tonnes, while refined tin production fell by 40% to 4,205 tonnes. However refined tin sales rose by 8% to 5,730 tonnes, as...

Low prices and permit issues limit Indonesian sales

Post By: Tom Mulqueen on Tuesday, 19 January 2016

PT Timah may slash sales to less than 500 tonnes per month while other Indonesian producers are limited by "quota" restrictions.

PT Timah corporate secretary Agung Nugroho told Metal Bulletin that the fall in tin prices has forced it to slash sales to less than 500 tonnes per month. "The significant drop in sales will affect our cash flow and we will have to work things out with the banks with whom we have long-term relationships. Customers also don't...

PT Timah announce reduced profits in H1

Post By: Tom Mulqueen on Tuesday, 08 September 2015

State owned Indonesian tin miner PT Timah saw its first half net profits fall 97% year-on-year to Rp 11.28 billion (US$ 801,962) in the first 6 months of 2015 compared to the same period of the previous year, according to its 2015 first half results, which the company attributed primarily to the 26% year-on-year fall in average H1 tin price to US$ 17,076 between 2014 and 2015.

The fall in profits came despite a slight 0.21% increase in unaudited...

PT Timah obtains export permits

Post By: Tom Mulqueen on Tuesday, 25 August 2015

Indonesian tin miner PT Timah has been granted clearance by the government to resume tin shipments following a halt when new rules for exporting the metal were implemented at the beginning of August. The new regulations are intended to address environmental damage and smuggling in the Indonesian tin industry and ensure the payment of royalties and taxes due on all tin shipments.

According to the Indonesian trade ministry, the state owned miner is currently the only tin company in...

PT Timah reverses decline

Post By: Peter Kettle on Thursday, 12 March 2015

Indonesian state tin company PT Timah today reported big increases in production and profits in 2014. Mine production of tin-in-concentrate rose by 23% year-on-year to 32,319 tonnes, while refined tin production grew by 16% to 27,550 tonnes. Net profit rose to Rp 638 billion (US$48 million). Company spokesman Renny Hutagalung attributed the improved financial performance both to higher tin sales (up by 16% to 26,907 tonnes) and efficiency improvements resulting in lower production costs.

As annual tin sales were less than...