ID :
18374
Mon, 09/08/2008 - 09:52
Auther :
Shortlink :
https://www.oananews.org//node/18374
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TIN SMELTERS URGE GOVT TO SET UP JAKARTA TIN MARKET
Pangkalpinang, Sept 8 (ANTARA) - Tin smelting operators grouped in the Bangka Belitung Timah Sejahtera (BBTS) consortium urged the government to immediately form a Jakarta Tin Market (JTM) to improve their price bargaining power.
"If the JTM is already operating, we hope we could determine the tin price," BBTS director Patris Lumumba said here on Sunday.
He said the government needs to prepare the regulation quickly to speed up the operation of the JTM. He said BBTS members were ready to give inputs and discuss the implementation of the idea.
The director general of general mining, minerals and natural gas, Bambang Setiawan, underlined the importance of the JTM here recently in view of the country's tin production accounting for 40 percent of the world's total demand for the commodity.
"We are more appropriate to be a world tine marketing country. Certainly the idea has to be discussed first with the shareholders and other countries," he said.
He said there would be no financial problem if the tin market was moved from East Kalimantan to Jakarta but it would be better if transactions were carried out in the country.
The director general of foreign trade, Diah Maulida, meanwhile had said that the government would facilitate tin businessmen in the country to take part in the planning of the JTM action market.
Two tin markets have so far been operating in Kuala Lumpur for the Asian region and in London for Europe and America.
As a leading world tin producer, Indonesia has so far only been a producer, while Malaysia had enjoyed a reputation and a big profit.
Indonesia in 2007 produced 93,735 metric tons of tin ingots worth US$1,354 billion while production in 2006 reached 118.555 tons worth US$913 million, according to the trade ministry data.
The president director of PT Timah, Wachid Usman, said if the tine market was in the country, Indonesian brokers and traders would play in it.
World buyers would look to Jakarta and even the price would be determined by the Indonesians, he said adding "it would be the Indonesians that would benefit much while it was the Malaysians that had enjoyed it."
Wachid said tin smelting industries in Southeast Asia such as in Singapore, Malaysia and Thailand are now facing a shortage of raw materials following supply problems and the implementation of the Indonesian policy allowing only registered exporters to export tin ingots.
Bangka has so far been the supplier of tin raw materials for trade-marked tin industries in Southeast Asia. The need for raw materials of the industries could no longer be met by their respective countries' production.
A tin factory in Thailand is able to produce 30,000 tons a year while that country's mining could only produce 3,000 tons of tin ore.
Malaysia is also able to produce up to 30,000 tons a year while its tin mine could only supply 2,000 tons of ore a year. Singapore meanwhile has no tin reserves but has set up a new factory because of supply from Bangka.
Indonesia meanwhile is able to produce 120,000 tons of trade-marked tin if its tin ore and ingots are not exported, he said.
"If the JTM is already operating, we hope we could determine the tin price," BBTS director Patris Lumumba said here on Sunday.
He said the government needs to prepare the regulation quickly to speed up the operation of the JTM. He said BBTS members were ready to give inputs and discuss the implementation of the idea.
The director general of general mining, minerals and natural gas, Bambang Setiawan, underlined the importance of the JTM here recently in view of the country's tin production accounting for 40 percent of the world's total demand for the commodity.
"We are more appropriate to be a world tine marketing country. Certainly the idea has to be discussed first with the shareholders and other countries," he said.
He said there would be no financial problem if the tin market was moved from East Kalimantan to Jakarta but it would be better if transactions were carried out in the country.
The director general of foreign trade, Diah Maulida, meanwhile had said that the government would facilitate tin businessmen in the country to take part in the planning of the JTM action market.
Two tin markets have so far been operating in Kuala Lumpur for the Asian region and in London for Europe and America.
As a leading world tin producer, Indonesia has so far only been a producer, while Malaysia had enjoyed a reputation and a big profit.
Indonesia in 2007 produced 93,735 metric tons of tin ingots worth US$1,354 billion while production in 2006 reached 118.555 tons worth US$913 million, according to the trade ministry data.
The president director of PT Timah, Wachid Usman, said if the tine market was in the country, Indonesian brokers and traders would play in it.
World buyers would look to Jakarta and even the price would be determined by the Indonesians, he said adding "it would be the Indonesians that would benefit much while it was the Malaysians that had enjoyed it."
Wachid said tin smelting industries in Southeast Asia such as in Singapore, Malaysia and Thailand are now facing a shortage of raw materials following supply problems and the implementation of the Indonesian policy allowing only registered exporters to export tin ingots.
Bangka has so far been the supplier of tin raw materials for trade-marked tin industries in Southeast Asia. The need for raw materials of the industries could no longer be met by their respective countries' production.
A tin factory in Thailand is able to produce 30,000 tons a year while that country's mining could only produce 3,000 tons of tin ore.
Malaysia is also able to produce up to 30,000 tons a year while its tin mine could only supply 2,000 tons of ore a year. Singapore meanwhile has no tin reserves but has set up a new factory because of supply from Bangka.
Indonesia meanwhile is able to produce 120,000 tons of trade-marked tin if its tin ore and ingots are not exported, he said.
