ISSUER - JAKARTA. PT Timah Tbk (TINS) has received approval for its Work Plan and Budget (RKAB) for the year 2024. TINS Company Secretary Abdullah Umar Baswedan said, following the approval of the RKAB, they are targeting higher production performance this year.
"The RKAB has been approved, the target for 2024 is larger than last year's target," Abdullah told Kontan, Monday (5/2).
However, Abdullah could not yet detail how much the production target set for this year is.
According to Kontan's records, in 2023, TINS aimed for a production of 26,100 tons.
Up to the third quarter of 2023, TINS recorded tin metal sales of 11,100 metric tons, down 28% from sales at the end of September 2022 which reached 15,325 metric tons.
As much as 92% of tin was exported with the top six export destination countries including Japan at 16%, South Korea at 13%, the Netherlands at 11%, India at 9%, exports to Taiwan at 9% and the United States at 8%
The decline in tin metal sales is also in line with the decrease in tin metal production. Throughout the first nine months of 2023, TINS' tin metal production fell 18% to 11,540 metric tons from previously 14,130 metric tons.
