Tin in the News (28 Nov 2013)
Source:  ITRI Ltd

The following is a summary of the information circulated by ITRI Ltd.  For more details and the original text please visit http://www.itri.co.uk.

Trade Minister and officials happy with new export regulations (28 Nov 2013)

Interviews conducted by Bloomberg with leading players involved in Indonesia’s new tin export regulation after three months in force revealed general satisfaction with the effects so far.  Since 30 August all tin ingot exported must be traded through a local exchange and meet new quality standards.

Sutriono Edi, head of the Commodity Futures Trading Regulatory Agency (Coftra) said the policy is right on track and the volumes traded at the Indonesian Commodity and Derivatives Exchange (ICDX) are increasing.  The ICDX will remain the only bourse that is allowed to trade tin ingots before shipment.


Timah looks for bounce back in sales and profits (27-28 Nov 2013)

The Jakarta Post reported that PT Timah, which saw a 35% fall in revenue to Rp 3.89 trillion in the first nine months of this year, is looking at sales of up to Rp 9 trillion (US$764 million) next year.  PT Timah’s President Director Sukrisno expects production and sales to be about 27,000t in 2013 and no change in 2014.  The company predicts tin prices will be in the range of US$25,000 to US$30,000 per tonne in 2014.

PT Timah would invest some US$18 million in Myanmar.  Exploration work on a 10,000 hectare exploration lease is due to start in December.

China exports rise, imports fall (25 Nov 2013)

China exported 826t of refined tin and tin alloy in October, up by 560% y-o-y.  This is the highest monthly export in the past two years.  The total cumulative exports in the first ten months were 2,359t, up by 78%.

China’s net refined tin imports have fallen sharply this year as a result of over-supply in its domestic market and unattractive price arbitrage.  In October, China imported 479t of refined tin and tin alloy, down by 80% y-o-y.  The total imports for the first ten months were 12,677t, down by 52%.

In contrast to the metal trade, concentrate imports increased greatly in October.  A total of 4,295t of tin concentrate (gross weight) were imported during the month, up by 445% y-o-y and 182% over the September import.  Most of the ore imported was low grade material from Myanmar.

ITRI-IPC China solder Technology Group launched (27 Nov 2013)

ITRI and IPC announced that a new membership group has been established, which aims to provide a bridge between the Chinese solder and electronics industries.  The new ITRI-IPC China Solder Technology Group aims to provide solutions to drive the next generation of solder technology development.  The key objectives are to initiate cooperative projects and focus on identifying solder application problems within the electronics industry and to begin to build a solder alloy database, which will provide a platform for R & D.  There are currently 16 members including leading solder and electronics enterprises in China.

Aus Tin powers ahead (25 Nov 2013)

Aus Tin Mining (formerly known as AusNiCo) expects to begin tin production from its Taronga tin project in NSW, Australia in 2017.  A forthcoming Pre-Feasibility Study is to be followed by a Bankable Feasibility Study and statutory approval processes through 2014-2015.  Annual capacity will be some 2,500 tpy of tin-in-concentrate.

First Bisie resource estimate announced (26 Nov 2013)

Alphamin Resources has released a maiden N143-101 compliant inferred mineral resource of 4.0 million tonnes at 3.5% Sn for 141,200 tonnes of contained tin for the Gecomines target within its Bisie project in north east DR Congo.  Further exploration will focus on the deeper levels of the deposit.

iTSCi benefits feed thorugh in Maniema (28 Nov 2013)

The iTSCi traceability scheme started in Maniema in December 2012 and now, although production is only just beginning to return to pre-embargo levels, benefits to the community can already be seen.  The Provincial Government is returning 70% of the tax revenue created by mineral exports to the local territory for use by the community.  The implementers of iTSCi plan to expand the scheme to include Maniema’s northern areas, which should also boost output there.

Forthcoming ITRI events

2014 International Tin conference - Penang

At the Shangri-La Rasa Sayang Hotel, Penang, Malaysia
13-16 May 2014

Help this site to stay free & run by buying me a cup of coffee!mfBeer Joomla! Plugin