Release date: 01 Oct 2007 PT Timah will propose that Indonesia, the world's second-largest tin producer, export 90,000 tonnes of the metal next year President Director Wachid Usman said today, according to Bloomberg News. Timah, Indonesia's largest tin producer, will export 45,000 tons of the proposed amount next year, Usman told reporters in Jakarta.
The proposal is part of an ongoing discussion of a proposed export quota scheme which has been announced by the Bangka Belitung provincial government but has not yet been agreed with relevant central government ministries. "We want prices to be stable at about $15,000 a tonne," Usman said. "We want to keep the price at the level that benefits both producers and consumers." He said that Timah had already exported 43,500 tonnes in the nine months to September 2007. The state-controlled company expects at least a five-fold increase in net profit to over one trillion rupiah (US$ 110 million) this year as a result of rising tin prices and a big increase in production in the first half of the year. However the company has said it will reduce output in the second half.
