Malaysia Smelting Corporation expects to begin operations of a joint venture smelter and tin products plant in Guangxi, China, in the second quarter. The investment was originally announced last October, ahead of a tightening of official restrictions on foreign investment in tin mining and smelting.
According to its newly released 2007 annual report, the smelting plant will have a target annual production capacity of 10,000 tonnes of refined tin and tin-based products, including tin chemicals. “All regulatory approvals have been obtained and operations are expected to begin in the second quarter of 2008,” it said.
MSC has a 40% share in the newly-formed Guilin Hinwei Tin Technology Co., Ltd., with local partner Guangxi Guilin Jinwei Realty Co. Ltd. taking 58% and Taiwan-based trading company Vertex Metals 2%.
The project is part of a range of recent investments by MSC aimed at increasing its product and geographical diversification. These include a nickel project in Vietnam, gold production in Australia, as well as new tin joint ventures in Indonesia. “In addition, MSC is also in active discussions with a few tin companies in Australia, Africa and Russia for further expansions and diversifications,” according to the annual report.
