China’s August imports ease (23 Sep 2009)

 China’s refined tin imports continued to decline from peaks reached a few months ago, but still well above year-ago levels.  Imports in August amounted to 1,637 tonnes, 23% lower than in the July but still 137% higher than in August 2008.  Year-to-date total imports, at 18,222 tonnes, is 107% higher than in the corresponding period in 2008.  Over half of total tin metal imports in January-August came from Indonesia (9,730 tonnes).

Total tin concentrate imports in August was 1,170 tonnes (gross weight), 36% higher than a year ago.  The main sources were Thailand, Myanmar and Bolivia.  Year-to-date concentrate imports were 4,012 tonnes, down 30% year-on-year.

 DRC authorities respond to traders’ tax complaint (21 Sep 2009)

Bloomberg reported that tax authorities in the eastern North Kivu province of Democratic Republic of Congo (DRC), Africa’s top tin producer, are to meet today to resolve a tin blockage caused by tax increases.  Tin traders last week stopped buying tin ore from the remote Walikale region, where DRC’s largest tin mine, Bisie mine is located,  after taxes rose to more than US$600 to fly 1.8 tonnes of ore to the provincial capital of Goma.  Four different taxation authorities have increased levies over the last three months.

Thaisarco suspends DRC purchases (18 Sep 2009)

Thaisarco, the tin smelting subsidiary of multi-national metals group AMC, announced today that it has chosen to suspend all purchases of tin ore from the Democratic Republic of Congo (DRC).  The move follows mounting criticism of companies trading with DRC by campaign groups concerned that revenue from minerals supports illegal armed groups.  This follows a similar announcement by the Belgian trader Traxys in May that it would withdraw from the business.  Nevertheless, Thaisarco will continue to honour existing contractual commitments until their expiry.

No slowdown in Indonesian shipments yet (18 Sep 2009)

In August, the volume of tin checked for export by surveyors amounted to 8,444 tonnes, 2.6% higher than in August 2008.  Year-to-date tonnage is 67,798 tonnes, up 5.1% on the corresponding period of last year.  The amount exported is expected to drop as police action against companies involved in illegal mining entered its fourth week.

(Source:  ITRI 25 September 2009)

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