ID :
27626
Fri, 10/31/2008 - 01:18
Auther :
Shortlink :
https://www.oananews.org//node/27626
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PT TIMAH'S SALES EXPECTED TO FALL SHORT OF TARGET
Jakarta, Oct 30 (ANTARA) - Publicly-listed tin mining company PT Timah Tbk has estimated its tin ore sales this year are to reach 50,000 tons or less than the targeted 58,000 tons.
"Our tin sales this year will be lower than last year when they were recorded at around 60,000 tons," PT Timah President Director Wachid Usman said at the Office of the State Enterprises Minister here on Thursday.
The drop in tin sales was caused not only by declining tin prices in the global market but also by rampant illegal tin mining activities, the rainy season and high sea waves, he said.
Until the third quarter of 2008, the company could only sell 35,000 tons of tin while global tin prices currently reached US$15,000 a ton, down from US$17,000-18,000 a ton previously, he said.
He stopped short of revealing the company's income forecast for 2008.
"It will decline. But I cannot say by how much it will drop," he said.
After all, he said, the company would go ahead with its business expansion plan which had been included in its business plan.
To increase its onshore mining production capacity, the company planned to take over coal mining concessions worth Rp2 trillion in four different locations in Sumatra and Kalimantan, he said.
"Our tin sales this year will be lower than last year when they were recorded at around 60,000 tons," PT Timah President Director Wachid Usman said at the Office of the State Enterprises Minister here on Thursday.
The drop in tin sales was caused not only by declining tin prices in the global market but also by rampant illegal tin mining activities, the rainy season and high sea waves, he said.
Until the third quarter of 2008, the company could only sell 35,000 tons of tin while global tin prices currently reached US$15,000 a ton, down from US$17,000-18,000 a ton previously, he said.
He stopped short of revealing the company's income forecast for 2008.
"It will decline. But I cannot say by how much it will drop," he said.
After all, he said, the company would go ahead with its business expansion plan which had been included in its business plan.
To increase its onshore mining production capacity, the company planned to take over coal mining concessions worth Rp2 trillion in four different locations in Sumatra and Kalimantan, he said.
