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Timah cuts 2016 production forecast

2016/8/19      view:

    Indonesian state-controlled tin producer PT Timah will not meet its original production target of 30,000 tonnes this year. The company's corporate secretary, Agung Nugroho, told Reuters today that output is now likely to be between 24,000 and 27,000 tonnes this year. "Right now we are struggling with production," Nugroho said. However he expected that production will recover to more than 30,000 tonnes in 2017 as a result of the addition of new tin mining vessels and "improved communication with stakeholders".

    Timah produced 26,361 tonnes of tin-in-concentrate and 27,431 tonnes of refined tin in 2015, but reported a sharp decline in production in the first quarter of this year due to extreme monsoon weather and delays in the renewal of its export permit. Q1 mine production fell by 49% compared to the same period of 2015 to an exceptionally low level of 3,405 tonnes, while refined tin production fell by 40% to 4,205 tonnes. Second quarter results are expected imminently.