China’s Yunnan Tin Company (YTC) was the world’s largest tin producer for a second year in 2007 and also reported much improved financial results. YTC produced 61,129 tonnes of refined tin, up by 17% and just ahead of a provisionally reported 58,000 tonnes by Indonesia’s PT Timah. The YTC total includes production from its wholly-owned Chenzhou smelter in Hunan province and the Singapore Tin Industries joint venture refinery in Singapore.
The Xinhua news agency reported that the company’s total output of non-ferrous metals hit an historical high of 140,000 tonnes, up 6.7% on 2006. About a third of the company’s tin production is used in downstream value-added products. Production and sales of both tin semis (mainly solders) and tin chemicals exceeded 10,000 tonnes, with the sales of tin semis amounting to over RMB 1 billion worth. In 2007, YTC’s sales income came to RMB 12 billion, up 31.8% y-o-y, with its pre-tax profit rising 59.1% and net profit up 93.7%.
YTC’s current investment projects include the tin dressing project in Wuchangping, Chenzhou, Hunan, which is about to come on stream with a 1,500 tpd capacity. In the downstream business, having completed the construction of a tin fabricating centre at Kunming Economic Technology Development Zone, YTC is now planning a 6,000 tpy methyltin expansion project. Methyltin compounds are mainly used in the production of PVC stabilisers.
Within China YTC is also expanding its interests in nickel, lead and copper. Recent overseas tin investments include a smelting joint venture in Indonesia and exploration in Australia. In addition an agreement was recently signed with Burma’s RHC on mining resource development as well as commercial cooperation.
