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Tin in the news (28Jan10) |
According to a large scale poll conducted by Reuters, the mean prediction of the 27 companies which provided forecasts for tin was an annual average LME price of US$16,555/tonne for 2010 and US&17,800 for 2011.
ArcelorMittal cuts Weirton workforce (26 Jan 2010)
ArcelorMittal, a leading US tinplate producer, will lay off 171 steelworkers at its tin mill in West Virginia to remain competitive amid “extraordinary economic conditions”.
New DR Congo supply chain study (26 Jan 2010) The Electronics Industry Citizenship Coalition (EICC) and Global e-Sustainability Inititaitve (GeSI) Extractives Workgroup has commissioned RESOLVE (www.resolv.org) an American non-profit organisation, to research the supply chain for the tin used as solder in their electronic products. This is in response to the widespread international concerns over ‘conflict tin’ originating from DR Congo and the aim is to understand more about important companies in the tin-solder-electronics supply chain and each company’s approach to this issue. Indonesia police seize more ore (25 Jan 2010) Local police on Indonesia’s Bangka Island has made a second seizure, this time 37 tonnes of illegal tin ore from a warehouse. The warehouse had a licence to collect and produce tin ore from its partners, but it was found to hold tin ore from illegal miners as well. Record imports by China (22 Jan 2010) China’s imports of refined tin in December amounted to 1,176 tonnes, bringing the annual total in 2009 to a record 20,741 tonnes, up 108% on the previous year. The main sources were Indonesia and Bolivia. China exported 685 tonnes of refined tin in 2009, mainly to Singapore. Vinto production surges (21 Jan 2010) Production by Empresa Metalurgica Vinto (EMV), Bolivia’s state-owned tin smelter, increased by 24% to 11,805 tonnes in 2009. This is the highest production figure since 1997, at a time when ore supplies were boosted by the toll treatment of concentrates from Minsur’s San Rafael mine in Peru. EMV will be installing a new Ausmelt plant in the next two years with a capacity to produce some 18,000 tpy of tin metal, although it will be a major challenge to obtain sufficient ore to operate at full capacity. (Source: ITRI 28 January 2010)
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