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Senin, 07 Februari 2011

Indonesia's Timah sees 2010 profit double on tin price surge - Reuters

Indonesia's state-owned PT Timah , the world's largest integrated tin miner, said on Monday that it posted 802.4 billion rupiah in 2010 net profit, more than double its 313.8 billion rupiah profit the previous year as tin prices surged. Tin prices have tracked copper to fresh record highs this month as supply shortages from top producer Indonesia have supported prices. Timah also said on Monday it expects a 2011 net profit of around 1 trillion rupiah.




Indonesia's state-owned PT Timah , the world's largest integrated tin miner, said on Monday it expects 2011 tin prices to be between $25,000-$30,000 a tonne. Tin prices have tracked copper to fresh record highs this month, supported by supply shortages from top producer Indonesia. On Friday, benchmark tin on the London Metal Exchange closed up $655 at $31,200, off an earlier record peak of $31,300.
Indonesia's state-owned PT Timah , the world's largest integrated tin miner, said on Monday that its refined tin sales in 2010 fell 18 percent to 40,302 tonnes. Timah in December forecast 2010 production at 40,000 tonnes, down from an earlier projection of 45-50,000 tonnes after heavy rains hampered mining. It sold 49,240 tonnes of refined tin in 2009.  Tin prices have tracked copper to fresh record highs this month, supported by supply shortages from top producer Indonesia.
Posted by Saham Pilihan at 14.30

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