The Jakarta Post

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Illegal tin mining in Babel declines

Stefani Ribka (The Jakarta Post)
Jakarta
Tue, August 8, 2017

Change text size

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Tin ore is loaded onto a truck at the PT Timah site in Sungailiat, Bangka Island. Tin ore is loaded onto a truck at the PT Timah site in Sungailiat, Bangka Island. (JP/File)

P

ublicly listed state-owned tin mining firm PT Timah (TINS) claims that illegal mining in Bangka Belitung Islands has declined thanks to the soft approach taken by the firm.

Timah finance director Emil Ermindra said the firm had speeded up the payment method for individual miners with Kartu Tambang (mining cards). With the cards, individual miners can redeem their payments in just a few hours for a fair price in accordance with global tin prices.

"In the past, illegal mining was rampant because miners got paid as long as they opted to sell it to middlemen at a low price," he said at a public briefing on Tuesday.

"We don't practice the tough approach by asking the police to catch them. We practice the soft approach by seeing to their welfare," he added.

Emil added that indications of declining illegal mining practices could be seen through observation. "From an aerial view, you can see less of it."

On the same occasion, PT Timah announced its financial performance.

Read also: PT Timah books positive results amid falling tin prices

As of March, its revenue increased by 53.8 percent annually to Rp 2.04 trillion (US$153.62 million) and net profit surged to Rp 65.8 billion after a loss of Rp 138.9 billion in the same period last year.

Improved tin prices led to the positive growth. Prices increased by 17 percent on average to $19,820 per ton in the first quarter from $16,989 per ton. (bbn)

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.

Share options

Quickly share this news with your network—keep everyone informed with just a single click!

Change text size options

Customize your reading experience by adjusting the text size to small, medium, or large—find what’s most comfortable for you.

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!

Continue in the app

Get the best experience—faster access, exclusive features, and a seamless way to stay updated.