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Tin in the News (09 June 2010) |
Source: ITRI Ltd
Solder companies state position on conflict minerals (09 Jun 2010)
The Solder Products Value Council (SPCV) of IPC, the association representing many of the world’s major solder manufacturers said this week that it “supports governments, NGOs and industry groups in their efforts to eliminate trade of ‘conflict metals’, especially mined tin from the Democratic Republic of the Congo…. The IPC SPVC supports ITRI’s efforts to achieve that goal.”.
Bankruptcy petition by Norosibirsk (08 Jun 2010)
Novosibirsk Integrated Tin Works (NOK), Russia’s sole producer of tin,
is seeking to be declared bankrupt. Reuters reported that NOK’s total
debt was 1.18 billion roubles (US$38 million) in Q1 2010, of which 356
million roubles were overdue.
The company’s refined tin production has steadily declined to very low
level in recent years, as most tin mines in Russia have gone out of
business. Russia’s refined tin production in 2009 was only 1,022
tonnes, while mine production of tin-in-concentrates was just 611
tonnes.
Indonesian patrol seizes tin ore shipment (07 Jun 2010)
Indonesia has seized a ship carrying 15 tonnes of illegal tin ore on
its way to Malaysia from West Kalimantan. The ship was captured by
Customs patrol in Indonesian waters near Natuna on Saturday and did not
have a permit for the cargo.
LME stocks shifted (04 Jun 2010)
According to Metal Bulletin, Deutsche Bank has shifted 2,000 tonnes of
PT Timah’s Mentok Brand Std Grade 99.85% tin from LME’s warehouses in
Asia into Exchange bonded warehouses in Europe to take advantage of
higher physical premiums in Europe. Until recently the great majority
of tin in LME warehouses has been held in Singapore and Malaysia.
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