PT Timah Allocates the IDR53.129 Bn Fund in April 2017

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    During April 2017, PT Timah (Persero) Tbk has distributed IDR53.129 billion fund dedicated to ground and sea exploration. It was a greater amount than the precedent year of IDR36.740 billion.

    PT Timah Secretary, Sutrisno S Tatetdagat explained that the activity was the prospecting and detailed drilling at Bangka Island (Kantung and Lut Cupat) and Belitung waters by using five drillships.

    Meanwhile, at the ground, the activities include geological mapping, core logging, grid measurement, and drilling primer lead at Bangka Island (Pemali, Bukit Pret, Bukit Badi, Jangkang, Kulur, and Bukit Senggiri) and in Belitung (Batu Besi Damar).

    “We spent IDR39.387 billion to conduct all the exploration and IDR13.802 for the investment. The total fund was IDR53.129 billion,” Sutrisno said.

    He added, PT Timah acquired the 11 tonnes resources, 23 tonnes indicated resources, and 3.305 tonnes measured resources from the sea exploration. All the lead they obtained were the alluvial deposit type.

    “The ground exploration results still on completeness and unreportable,” said Sutrisno.

    The exploration conducted in April was the evaluation and an advance of last month’s activity. The prospection drilling using five drillships conducted at Bangka waters, Kundur, and West Belitung. The primary lead drilling performed in Bangka Island and Belitung.

    PT Timah President Director, Mochtar Riza Pahlevi said the lead price is predicted to keep raising in 2017. The 2016 lead price was USD18,408 per MTtonne or increase four percent than the previous year which only USD16.186 per MTon.

    Therefore, the company sets its net profit to IDR862 billion this year, it is three times greater than in 2016 of IDR251.97 billion as the global lead price increase.

    Addition, the company also targets the production to 35,550 tonnes by 2017 or lift up to 49.45 percent compared to one in 2016 of 23,756 tonnes.

    “We are optimistic to achieve the target. The current global lead demand keeps increase as the electronic, manufacture, and chemical industry grow. The high demand of lead comes from China, South Korea, and USA,” he mentioned. (Dds/Pas)

     

    Source : Rakyat Merdeka

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