In his weekend criterion column for The Australian, Tim Boreham reports that the long-awaited reduction in Indonesian tin production is a “blessed relief” for developers such as Stellar Resources.
Indonesian tin accounts for 25% of the market and there were suggestions that Indonesian producers have been mulling the decision to cut output for some months.
Last week, in a move that saw a 7% rise in the price of the “handy industrial metal”; Refined Bangka Tin, the world’s biggest tin producer, announced that it would cease production infinitely – good news for Australian tin exploration and development company Stellar Resources.
As part of his reporting Boreham goes on to reference Stellar’s 100% ownership of the Tasmanian Heemskirk project, and the assertion that it is “the highest grade undeveloped tin resource on the local bourse.”
Throughout the article Boreham’s view of the tin market was a positive one, a perspective Peter Blight, Stellar Resources Managing Director, is very much in agreement with; adding that it is “in much better shape than the price suggests.”
The full article, including comments from Stellar Resources, can be found at: http://www.theaustralian.com.au/business/opinion/tin-miners-worth-a-look-in-a-tight-market/story-e6frg9lo-1227319357831
The largest tin producer in Indonesia, which is the world’s top exporter, is cutting output by as much as 50 per cent. PT Timah will produce 1,500 metric tons to 2,000 tons of refined tin a month starting in April, below this year’s target of 2,000 tons to 3,000 tons.
In a report for Bloomberg, Yoga Rusmana and Dwi Sadmoko write that tin is “used in everything from cans to smartphones”, but PT Timah is seeking to stem the decline in price of the metal by restricting output while the Indonesian government tightens export and trading rules to limit shipments.
As producers cut back, the price of tin is expected to rise, which is good news for developers and explorers such as Stellar Resources. With further disruptions and restrictions to the Indonesian tin market, developers and explorers in stable countries such as Australia could receive more good news as buyers hunt for long-term stable supplies of tin.
To read the full article please visit: http://www.bloomberg.com/news/articles/2015-04-22/world-s-biggest-tin-exporter-cuts-output-after-price-rout
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.
To read more about this story featured in Mining Weekly, click on the link below:
Paydirt Magazine’s Mark Andrews reports on Stellar Resources’ search for an industry participant willing to assist in funding the Heemskirk tin project. It is believed to be a good time to commence the project as the tin industry is showing a steady improvement after two years of recession. Despite the changes to tin regulations in Indonesia that might impact the industry, Heemskirk stands out against peers in the field by being the highest-grade undeveloped tin deposit in Australia and is expected to move forward. Stellar sees new opportunities and room for improvement and intends to continue investing in drilling to expand current Heemskirk resources.
To read the full article, click on the link below:
Permission for reproduction received by Paydirt.