Soaring Almost 100 Percent, TINS Aims For 30,000 Tons Of Tin Metal Production This Year

Illustration (Photo: Doc. ANTARA)

JAKARTA - President Director of PT Timah (Persero) Tbk (TINS) Ahmad Dani Virsal targets to produce 30,000 tons of tin metal by 2024.

This figure shot up 100 percent of tin metal production in 2023 which only reached 15,340 metric tons (MT).

"Our production target, if I'm not mistaken, is 30,000," said Virsal to the media quoted on Wednesday, April 3.

The production of tin metal TINS continues to fall for 3 consecutive years. In 2023 tin metal production was recorded at only 15,340 metric tons (MT) or decreased by 23 percent compared to 2022 which reached 19,825 MT or 2021 by 26,465 MT.

Meanwhile, tin ore production has also continued to decline since 2021.

It is known, tin ore production in 2021 will reach 24,670 MT. Meanwhile, in 2022 it will fall again to 20,079 MT, and the subsidence will be around 26 percent in 2023 of 14,855 percent.

Virsal also admitted that he is optimistic that the production in 2024 which is certain to increase compared to the previous year.

To make this happen, he said TINS was trying to improve corporate governance, including in the form of cooperation and business partners to technical in the field.

"God willing, production in 2024 will be better than the previous year. We are optimistic that the production will be better," he continued.

Not without reason, Virsal admitted that production in the first quarter had shown a change.

"This trillion has already described it. The second quarter is also better than the first quarter," he said briefly.

Virsal is also reluctant to reveal the realization of tin ore production and tin metal produced by TINS in the first quarter of this year.

"I'm not like that, but better than the quarter last year," concluded Virsal.

Just so you know, the drop in tin ore and metal production has an impact on the company's financial performance.

In 2023, TINS suffered a loss of IDR 450 billion. Whereas in 2022 PT Timah earned a profit of IDR 1.3 trillion.

Meanwhile, the average price of lead metal also decreased to US$26,583 per metric ton.

The decline in tin production and prices then had an impact on the company's financial performance, which was recorded to only record revenue of Rp. 8.3 trillion from the previous year's Rp. 12.5 trillion.