Indonesian tin output seen falling to 14-year low

Jakarta

TIN production in Indonesia could slump to a 14-year low as weak prices and government regulations curb mining in the world's largest exporter. Output of the refined metal, used in cans and circuit boards, may fall to 60,000 tonnes this year, according to PT Timah, which accounts for about half of Indonesia's total. That's a decline from 67,350 tonnes in 2015 and would be the lowest since 58,794 tonnes in 2002, according to World Bureau of Metal Statistics data.

The government has imposed restrictions on production and overseas sales, tightened up on taxation and quality standards, and obliged exporters to trade the metal on a local exchange before shipping. Smelters in Indonesia are running at low capacity as ore supplies tighten due to a decline in prices and the government's curbs, said PT Timah corporate secretary Agung Nugroho.