Saturday, September 30, 2023

$4.2b Loss From Tin Mining Underscores Need for Stronger Regulation, Minister Says

Pamudji
November 9, 2015 | 5:44 pm
SHARE

Jakarta. Indonesia’s minister of mines has called for stronger regulation of the sector, amid claims the country has lost more than Rp 58 trillion ($4.2 billion) from illegal mining of tin alone between 2008 and 2013.

“The problem in mining is our responsibility. We should not blame each other or refuse to help each other,” Sudirman Said, the minister for energy and mineral resources, told the Mineral and Coal II Leaders Forum in Pangkalpinang, the provincial capital of Bangka-Belitung, Indonesia’s tin-mining hub, over the weekend.

Indonesia is the world’s largest tin producer, and Bangka-Belitung produces about 90 percent of the nation’s tin.

However, state-owned miner Timah, which has a heavy presence in the region, says it loses up to 80 metric tons of the metal every day due to illegal miners operating in its concession.

Advertisement

Timah president director Sukrisno, citing international industry group ITRI, says that of the 593,404 tons of tin that Indonesia produced between 2008 and 2013, some 352,000 tons went unreported.

He said that, assuming a tin ore price of $15,000 per ton and a rupiah exchange rate of 11,000 to the US dollar, Indonesia lost Rp 58 trillion in potential sales. Timah’s share of that figure is close to Rp 21 trillion, Sukrisno said.

Tags: Keywords:
SHARE

POPULAR READS


News 35 minutes ago

Who is to Blame for Looming Shutdown in the US?

After all, it's House Republicans who have been paralyzed by their inability to pass a funding package.
News 22 hours ago

77 Indonesians Could Be Spared Death Penalty in Malaysia

Malaysia recently decided to scrap the mandatory death penalty for a range of serious crimes, including drug trafficking and murder.
Tech 23 hours ago

South Korean League of Legends Team Wins Gold at Asian Games

Esports was first featured at the last Asian Games in Jakarta, Indonesia, as a demonstration sport and proved incredibly popular.
News Sep 29, 2023 | 11:13 pm

Jakarta Governor Clarifies Social Media Post Regarding Seawall Cracks

He clarified that the video shared on social media was an old one, showing an embankment wall in Kalibaru.
News Sep 29, 2023 | 11:12 pm

US Government Shutdown Almost Certain

McCarthy’s right-flank Republicans refused to support the bill despite its steep spending cuts of nearly 30 percent to many agencies.
COPYRIGHT © 2023 JAKARTA GLOBE. ALL RIGHTS RESERVED