Novosibirsk Integrated Tin Works (NOK), Russia’s sole producer of the metal, reported that first quarter sales volumes declined by 72 percent from the year-earlier period as demand slumped, Reuters reported. First quarter sales totalled 122.3 tonnes, compared to 432.3 tonnes a year ago. However, the company said it expects demand to revive in the near future.
Last year the group produced only 1,405 tonnes of tin, down from 2,480 tonnes in 2007, due mainly to a shortage of tin concentrate. NOK said late last year that it had stopped receiving concentrate from the Sakhaolovo mining company in the second quarter and was unable to offset the shortage with supplies from other sources. Sakhaolovo is the largest tin mine in Russia and is now believed to be exporting its concentrates to SE Asia.
