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Jakarta Post

Timah to cut costs, complete smelter to endure downturn

  • Norman Harsono

    Jakarta

Jakarta   /   Fri, June 19 2020   /  01:00 am
PT Timah president director Riza Pahlevi Tabrani speaks at a shareholders meeting (RUPS) in Jakarta on Thursday (12/6).(Timah/Timah)

State-owned tin miner PT Timah plans to cut costs and finish the construction of a smelter in an effort to turn its fortunes around after the company lost money last year. The publicly listed company announced on Thursday that it planned to deleverage debt, reprofile bank loans and cut costs “in all lines of production”.  The company also planned to continue developing a multimillion dollar tin smelter on Bangka island at the behest of the government and to keep exporting the mineral strategically. “We have to be selective in responding to the dynamism of the global tin market,” said Timah president director Riza Pahlevi Tabrani in a statement. Riza told reporters late last year that Timah would cut export volumes by up to 2,500 metric tons each month to optimize earnings amid variable global tin prices.  Timah, one of the world's top ...