REPUBLIKA.CO.ID, JAKARTA - State owned tin enterprise, PT Timah, will expand to Myanmar, building two companies in the country. PT Timah, the biggest tin exporter in the world, also plans to build a tin trading company in Myanmar.
"We almost finish building the company," Executive Director of PT Timah, Sukrisno, said on Thursday. He added that the company spent 18 million USD for the investment.
PT Timah and Government of Myanmar agree on profit sharing scheme for exploitation. PT Timah will receive 80 percent of profits while Myanmar will get 20 percent. PT Timah seeks 10,000 hectare areas in Myanmar for exploitation and smelter.
With the current price of 24,000 USD per tonnes, Sukrisno hopes the price of tin will gain to 30,000 USD per tonnes in 2013. Considering the low price, PT Timah will only produce 29,000 to 30,000 tonnes.
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