Still Far From Target, TINS’ Tin Ore Production Has Reached Only 11,201 Tons
JAKARTA - Production of PT Timah Tbk. (TINS) is still far from the company's target. Quoted from the company's annual report, TINS targets production in 2023 of 26,100 tons. Meanwhile, currently, until the third quarter of 20203, TINS recorded tin ore production of 11,201 tons.
This amount has only been achieved 77 percent compared to the achievement in the same period the previous year of 14,502 tons. Meanwhile, tin production reached 11,540 metric tons or reached 82 percent compared to the same period the previous year of 14,130 metric tons.
On the other hand, sales of tin metal have only reached 11,100 metric tons from the company's target in 2023 of 27,400 tons. This number has also only reached 72 percent compared to the same period the previous year of 15,325 metric tons.
On the other hand, the average selling price of tin was 27,017 US dollars per metric ton or 23 percent lower compared to the same period the previous year of 35,026 US dollars per metric ton.
As of the third quarter of 2023, TINS recorded tin exports of 92 percent with the top 6 export destination countries including Japan at 16 percent, South Korea 13 percent, the Netherlands 11 percent, India 9 percent, Taiwan 9 percent, and the United States 8 percent.
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TINS Director of Operations and Production, Nur Adi Kuncoro said, to achieve the target, TINS is trying to increase production, it is taking a number of steps, including adding mining locations, optimizing mining equipment at sea and increasing primary mining production capacity.
"We are confident that these efforts will improve production performance in the future," said Nur Adi Kuncoro in Public Expose Live, quoted on Wednesday, November 29.
On the other hand, continued Adi, TINS also safeguards assets and enforces regulations as well as community mining cooperation to reduce illegal mining in mining concession areas.
"TINS is consistently and committed to taking strategic steps to improve operational and production performance in line with government support for improving the governance of Indonesian tin mining and trading," he concluded.