Journalists from across the globe have reported that a group of Indonesian tin smelters have put in place a three-month self-imposed quota to cap tin exports at 2,000 tonnes per month, hoping that the move will boost the metal’s price. Jabin Sufianto, chairman of the Association of Indonesian Tin Exporters, said that producers will review sales volumes every month depending on market demand.
Bloomberg’s Yoga Rusmana and Eko Listiyorini also report that Indonesian tin had not performed well on the London Metal Exchange over the last year, as suppliers faced increased competition from countries including Myanmar and Australia. However, with Indonesia having such a short-term tin strategy, reviewing their export quota month-by-month, buyers may look more at Australia for long-term stable supplier of tin – which could be beneficial to developers and explorers such as Stellar Resources.
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In the February edition of Paydirt, Stellar Resources Managing Director Peter Blight spoke with Rhys Dickinson to reflect on the great success the company had enjoyed in 2014 and discuss why even more excitement lies ahead.
Last year Stellar announced the results of a successful three-hole drilling campaign at Queen Hill, proving that tin mineralisation potentially extended an additional 150m down plunge of Queen Hill’s existing mineral resource.
Speaking about this positive result, Blight commented: “What the latest drill hole is suggesting is that there is very good potential in that deeper zone to find more mineralisation and possibly the three deposits (Queen Hill, Severn and Motana) coming together as you go deeper down. That’s all quite encouraging.”
During the interview, the Stellar MD explained how much of Stellar’s focus this year would be on the Severn deposit’s high grade areas: “We didn’t get around to doing drilling at Severn last year, mainly because we launched into this review of geology. That’s now given us some better ideas for targeting Severn, particularly focusing on the high grade tin areas,” he said. “We are still formulating the programme at the present time but the intention is to test some of these ideas in the early part of 2015.”
Overall, Blight believes that Stellar’s good work in 2014 has it poised for production in 2017: “We think the project is very highly ranked against the other tin development proposals out there, and the key advantage is the grade of the project and the infrastructure we have around us in Tasmania.”
Bloomberg’s Yoga Rusmana and Dwi Sadmoko report that tin exporters in Indonesia, the world’s biggest supplier, will meet later this week to discuss a temporary suspension of sales to stem declining prices. Rustam Effendi, the Governor of Bangka Belitung, is likely to be part of the discussions and is expected to propose an export halt on tin for at least two months.
However, for the shipment halt to be successful, all exporters must agree to it.
With Indonesia discussing plans to introduce further barriers to their tin market, buyers may look elsewhere for long-term stable suppliers of tin. This could be beneficial to Australian developers and explorers such as Stellar Resources.
To read the full article visit www.bloomberg.com
In her latest report on global tin mining, Bloomberg’s Chanyaporn Chanjaroen indicates that exports from Indonesia, the world’s largest supplier of the metal, will continue to decline in 2015 as the country tightens curbs on tin mining to boost sales of higher-value products. A planned clampdown on mines this year, to check which are so-called clean-and-clear and not in breach of regulations, will further erode supplies.
According to estimates compiled by the newswire, shipments may drop 20 per cent to 61,000 metric tons, down from 75,925 in 2014.
Whilst the Chairman of the Association of Indonesia Tin Exporters admits that they are “under a lot of pressure”, the article reports that efforts by Indonesia to clamp down on exports have had little effect on prices amid alternative supply. The news is likely to improve supplies from Myanmar, Australia and the Democratic Republic of Congo. For Australian developers and explorers, such as Stellar Resources, this is positive as buyers are looking for long-term stable supplies of tin.
To read the full article visit www.bloomberg.com
Stellar Resources Limited has released an audio broadcast with BRR Media.
Peter Blight, Managing Director, discusses the recent Quarterly Activities Report dated 22 January 2015.
To listen to the broadcast, please visit BRR Media’s website:
Bloomberg’s Chanyaporn Chanjaroen reports on Australia’s largest tin miner boosting supplies despite cuts in sales from Indonesia. The company plans to increase output by about 14 percent, despite a two-year slump in prices. ITRI‘s Peter Kettle reacted positively to the news saying, “Myanmar and Australia are really the only things that stand out in terms of supply increase.” The mine in Tasmania has produced 6,000 to 8,000 tons annually for more than 40 years. The news is encouraging for Stellar Resources as it continues to expand activities around its Heemskirk Tin Project, also located in Tasmania, to realise its goal of becoming the second largest tin producer in Australia.
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Global tin industry organisation ITRI has called for more research into the use of tin alloy pellets added to fuel, following successful field trials in Malaysia. In a statement released on January 7, ITRI commented on the positive results identified using eleven different engines on fuel saving and exhaust emissions reduction.
With moves by engine manufacturers, governments and the scientific community to further reduce exhaust emissions, the outcomes provide an opportunity to take tin fuel catalyst technology more seriously.
To read the release in full click on the link below:
ITRI: Tin alloy fuel catalysts save fuel and cut pollution
Earlier this year, ITRI, the global tin association formerly known as the International Tin research Institute, completed its fourth major review since 2008 of the medium to long-term outlook for the industry. The fundamental conclusion of this study was that there is a high probability of a tin shortage developing within the next five years, even if growth in usage is slow.
Stellar Resources Heemskirk Tin Project in Tasmania is poised to become the second largest tin producer in Australia.
To read the full article by Peter Kettle, Manager – Markets – ITRI Ltd, click on the link below: