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Tin in the News (28 April 2010) |
Source: ITRI
Electronics industry to discuss tin supply chain (28 Apr 2010)
Two groups representing leading IT and electronics industry brands, namely Global e-Sustainability Initiative (GeSI) and the Electronic Industry Citizenship Coalition (EICC) are hosting a workshop in Vancouver on 20 May to discuss responsible tin sourcing. The workshop ties in with ITRI’s International Tin Conference which is being held in the same location on 17-19 May.
The groups expressed concern about social and environmental practices of some minerals suppliers in the ICT supply chain. They believe that mining activities that contribute to conflict are unacceptable. As such they are joining many other tin supply chain participants to take action that will address responsible sourcing.
Tinplate facing substitution threats in Japan (28 Apr 2010)
Recent rises in tinplate prices may result in an erosion of market share relative to competing products. According to the Japan Metal Bulletin, some beverage makers are currently adopting aluminium cans and PET bottles instead of conventional steel cans or coffees. Confectionery makers may use paper packages instead of steel cans when they release new products.
Yunnan Tin reports much improved Q1 results (23 Apr 2010)
China’s Yunnan Tin Company, the world’s largest tin producer reported a 164% year-on-year increase in net profit to RMB 71.7 million yuan (US$10.5 million), while sales grew 43% to RMB 2.04 billion yuan.
Sales of downstream products increased much more, with output of tin chemicals going up 146% to 4,296 tonnes and output of tin products (mainly solders) up 90% to 4,623 tonnes. The prices of its products on the Chinese market were also much higher, with tin metal up 33% year-on-year and tin products and chemicals rising 31% and 12%, respectively.
Minsur to open gold mine (23 Apr 2010)
Peru’s Minsur, which operates the world’s largest tin mine, will diversify into gold production by Q4 2010 with its US$90 million investment in the Pucamarca mine near the Chile border.
The company’s San Rafael mine, in Puno region, produced 37,503 tonnes of tin-in-concentrate in 2009. It also owns the Pitinga tin mine in Brazil.
PT Timah aims high for 2010 mine production (23 Apr 2010)
Indonesia’s state-controlled PT Timah plans to increase its mine output by some 20-30% in 2010 to 45,000-50,000 tonnes. In 2009 it produced 37,701 tonnes of tin-in-concentrate, including purchases from small mines.
Korean procurement agency has mixed results (23 Apr 2010)
South Korea’s Public Procurement Service bought 200 tonnes of 99.85% tin for delivery by 9 July at a premium of US$340 per tonne over the LME price c.i.f. Incheon from Hanwha corp. However, the agency passed on awarding a contract for 200 tonnes of high grade tin for delivery as it only received one bid.
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