State-controlled tin miner Timah targets to increase its export performance by 42 percent this year, expecting to rebound from the aftershock of domestic regulatory changes in the past two years. (Investor Daily Photo/Tino Oktaviano)

Timah Expects Tin Export to Rebound in 2017

BY :DION BISARA

FEBRUARY 09, 2017

Jakarta. State-controlled tin miner Timah targets to increase its export performance by 42 percent this year, expecting to rebound from the aftershock of domestic regulatory changes in the past two years.

"Timah targets to export  30,000 metric tons of refined tin this year from 21,000 in 2016," Sutrisno Tatetdagad, the company's corporate secretary said on Thursday (09/02), as quoted by state-run news agency Antaranews.com.

The company lost its place as the top tin exporter after the Indonesian government ruled that the metal must be traded on the Indonesia Commodity and Derivatives Exchange (ICDX) before being exported.

The government also restricted tin ingot exports in order to develop downstream industries. As a result, Timah exports dropped 25 percent from 28,000 metric tons in 2015.

Timah's share price closed 3.3 percent lower at Rp 1,030 per piece on the Indonesia Stock Exchange (IDX) on Thursday, trailing the benchmark index that rose 0.3 percent after stocks rallied.

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