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PT Timah aims to increase its underwater mining production by 50%

22 January 2019 10:41 AM  Company: PT. Timah Tbk[TINS]
Rp. 1,085  +10 (0.93%)

JAKARTA. PT Timah Tbk (TINS) recorded tin production from underwater mining of 22,000 tons Sn this year, 15% more than the number from the previous year.

Emil Ermindra, Finance Director of TINS, said that the production of tin ore obtained from the sea in 2018 was quite optimal compared to the previous year. TINS recorded the production of tin ore from the sea as many as 19,159 tons of Sn, 7% more than 2017 number (17,906 tons of Sn).

In addition, Ermindra admitted that the cost of producing tin ore from marine mining is about 30% cheaper than onshore mining. He said that underwater mining does not require expensive land acquisition costs. "Therefore, PT Timah continues to develop the production capacity of tin ore from the sea," Ermindra explained as quoted by Kontan, on Tuesday (22/1) today.

PT Timah will add 4 units of Suction Vessel (KIP) to support its production growth this year. Ermindra said that each KIP needs funds of around Rp. 70 billion. (KR/AR)

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PT. Timah Tbk [TINS]   Rp. 1,085   +10 (0.93%)