Indonesia’s state-controlled tin company PT Timah is to invest US$50 million in the production of downstream products. The feasibility study for such industries had already been conducted and a memorandum of understanding had already been signed with an un-named Chinese partner, according to a report by the official Antara news agency.
The report did not specify which downstream products will be produced, but the most likely targets are solders and tin chemicals. The new business is expected to be in operation by the end of 2008.
Timah had previously announced that it is planning capital spending of 1.3 trillion rupiah (US$140 million) in 2008, which will be used both to expand its tin reserves and diversify into coal and other businesses.
