Indonesia’s PT Timah plans to sell 49,000 – 50,000 tonnes of refined tin this year, the company’s President Director told a parliamentary commission in Jakarta. Timah also expects to increase capital expenditure to Rp 600 billion (US$64 million) this year and is re-visiting previously delayed plans to acquire coal mining operations to diversify its business.
“Timah’s sales volume for this year may be only between 49,000 tons and 50,000 tons,” about the same amount as last year, Wachid Usman told the lawmakers. “Hopefully, that will help increase prices,” he said. He predicted that global economic recovery and limited output from some major producing countries could result in the annual average tin price in 2010 rising to $20,000/tonne.
