JAKARTA - President Director of PT Mineral Industri Indonesia (Persero) or MIND ID Maroef Sjamsoeddin revealed that Indonesian Tin production in 2024 experienced a significant decline.
Maroef said this decline occurred from the previous 65,000 tons to only 45,000 tons.
"Indonesia's production decreased from 65,000 tons to 45,000 tons so that it contributed only about 12 percent of the world's tin supply," he said in a Hearing Meeting with Commission VI of the Indonesian House of Representatives, Wednesday, May 14.
In fact, he said, based on export data in 2023, Indonesia's tin contribution reached 17.5 percent of the world's tin supply.
The former President Director of Freeport added that the decline in the supply of Tin from Indonesia also resulted in an increase in the world's Tin price from an average price of 26,583 US dollars per ton in 2023 to 31,164 US dollars per ton in 2024.
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"This proves the influence of Indonesia's Timah supply on the global market," said Maroef.
Maroef further added that despite the decline in production, Tin commodities cannot be replaced with other commodities.
"So that market needs continue to increase from year to year," said Maroef.
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