NEWS

Timah Targets Higher Output Following Work Plan & Budget Approval

Timah Targets Higher Output Following Work Plan & Budget Approval

PT Timah Tbk (TINS) received approval for 2024 Work Plan and Budget (RKAB). TINS Corporate Secretary Abdullah Umar Baswedan said, following the approval, the company is targeting higher production performance this year.

“The work plan has been approved, and our 2024 target is bigger than last year’s,” Abdullah told Kontan on Monday (5/2).

However, Abdullah cannot specify further how much the production target is set this year.

Kontan noted that in 2023, TINS aimed for a 26,100 tons production.

Until the third quarter of 2023, TINS recorded 11,100 metric tons of tin metal sales, a decrease of 28% from sales as of the end of September 2022, which reached 15,325 metric tons.

A total of 92% of tin was exported to the top 6 export destination countries, including Japan at 16%, South Korea at 13%, the Netherlands at 11%, India at 9%, Taiwan at 9%, and the United States at 8%.

The decline in sales is also parallel to the decline in production. Throughout the first nine months of 2023, TINS’ tin metal production fell 18% to 11,540 metric tons from 14,130 metric tons previously.

 

Image source: KONTAN / Doc. TINS

Source: https://industri.kontan.co.id/news/rkab-disetujui-timah-tins-bidik-target-lebih-tinggi-pada-tahun-ini