Indonesian tin mining company PT Timah will halt exports starting October 1 because of “collapsing” world tin prices. Prices currently stand at US$17,000/metric ton. According to PT Timah Director Wachid Usman, the declining world tin price was a result of the financial crises in Europe and America. “We decided to halt the export until the price recovers to the level of $23,000/mt,” he said. Wachid said the plan would not have a direct impact on the company’s production, adding that the company would still produce 40,000 mt of tin this year.
- Written by E&MJ News