PT Timah has cancelled its plan to invest in a tin project in Australia, but is still trying to find new mining locations both at home and abroad, according to its President Director Wachid Usman. Speaking to a parliamentary commission on national development planning today, he said that overseas investments in “China, Cambodia, Vietnam and Myanmar” were possible, according to the official Antara news agency. The company has arranged bank financing of up to Rp 4 trillion (US$424 million) to finance such investments.
Timah was previously linked with junior explorer Outback Metals, which has several tin properties in Australia’s Northern Territory and was listed on the ASX two weeks ago. No details of the possible Asian investments were given. Meanwhile Timah is in the process of expanding its offshore dredging capacity in Indonesia. Its offshore production of tin-in-concentrate rose by over 50% to 6,391 tonnes in the first half of this year.
