INDUSTRY.co.id - Jakarta - PT TIMAH establishes a partnership with a Chinese tin company, Yunnan Tin as outlined in the Strategic Cooperation Framework Agreement (The Strategic Cooperation Framework Agreement).

The agreement was signed directly by President Director of PT TIMAH Riza Pahlevi and Yunnan Tin Group President Zang Tao last week in Kunming, China, on the sidelines of Asia Tin Week 2017 in Kunmig, China, on September 14, 2017.

According to the official information of PT TIMAH, Riza said the contents of the agreement regarding the processing of tin, especially for chemical industries, and business development, and utilization of tin resources. Such cooperation attracts attention as both are the main actors of the world's tombs. PT TIMAH is the second largest tin-producing company, while Yunnan Tin is number one.

Asia Tin Week 2017 was attended by 200 more major international tin companies. The annual event is organized by Tin Reserch Institute (ITRI). A number of strategic issues discussed on this occasion include the potential for significant changes in the tin industry as increasing global uncertainty and protectionist sentiment. In addition, the issue of the Chinese government that has canceled its export duty for refined tin and considers allowing trade in tin concentrates.

In recent months, tin prices have generally stabilized between US $ 18,500 - US $ 21,000, but some supply-side reforms in China continue to impact metal production. It is also expected to have an impact on the world's tin industry.

Tin demand and prices are also expected to be affected in the medium term by global economic and financial developments. Bangka Belitung Governor Erzaldi Rosman Djohan and President Director of TINS ​​M. Riza Pahlevi Tabrani became speakers in Asia Tin Week 2017.

On the occasion, Riza explained, PT TIMAH is currently continuing to develop tin mining technology in an effort to consistently locate and maintain material supply.

"TINS performance is sped up thanks to a good operation strategy, including with the discovery of new resources and reserves, both in land and sea areas and improvement of partnership management system," said Riza.

While the Director of Operations PT TIMAH Alwin Albar also explained the progress of mining and reclamation activities that have been done his side.

In addition to the President Director and Director of Operations, the delegation of PT TIMAH was also attended by the President Director of PT TIMAH Industri Purwoko, General Manager of Babel Sadina, Corporate Secretary Amin Haris Sugiharto, Marketing Chief Ria Pawan and several others.

In the first semester of this year PT TIMAH (TINS) share value recorded a very positive performance. BUMN engaged in tin mining industry is able to increase its profit from minus Rp32, 88 billion in the same semester of the previous year, to Rp150, 65 billion. This 5.5-fold increase puts TINS ​​as one of the mining issuers with an attractive prospect in 2017.

TINS's positive earnings performance is also supported by improved operational performance and financial performance. For operational performance in the first half of 2017, TINS ​​was able to record an increase in tin ore production by 16,078 tons, up 76.52 percent from 9.108 tons in the same period last year.

Tin production rose 56.56% to 14,905 Mton compared to the first half of 2016 of 9,520 Mton. The sales of tin metal recorded 14,404 Mton or up 23.30% over the same period in 2016 amounted to 11,682 Mton.