Indonesia-Timah Discovers 9,176.70 Tons of New Tin Reserves
October 29, 2008 by
Up to September 2008, state tin mining company PT Timah (TINS) discovered measured tin reserves of 9,176.70 tons with a richness of 0.252 kg per cubic meter, a spokesman said.
The discovered resources were 92 percent of the volume projected in the company`s 2008 working budget plan, TINS corporate secretary Abrun Abubakar said here Wednesday.
TINS` exploration activity in the first nine months of 2008 was focused on drilling expansion and lead reserve broadening, he said.
In drilling expansion and lead reserve broadening, the company had spent Rp.21.967 billion on capital expenses or 83.68 percent of the amount projected in its working budget plan while operational expenses until September 2008 reached Rp.7.817 billion or 40 percent of the projected amount.
Under its future plan, TINS would conduct lead reserve drilling and mining at its Kundur and Bangka sites and prospection drilling at Kundur, Abubakar said.
D-8 member states posses huge potential of natural resources, such as tin and minerals. As popularly known, Indonesia and Malaysia are the world’s biggest palm oil producer, either for food or bio diesel; while Turkey also renown for its boron, which is imported by most Asian countries.
D-8 plans to hold at least two programs this year with regard to mines and energy industries. During the fourth D-8 Working Group Meeting on Energy in Cairo, Egypt on 1-2 June 2008, Indonesian delegation confirmed their readiness to be the host for the 1st D-8 Working Group on Mines Cooperation. Delegations from the memberstates will sit down to discuss potential issues in Working Group on Mines, and Working Group on Industry, in Bali, Indonesia, on 27-28 October 2008.
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