State-owned tin mining giant PT Timah is gearing up to launch two strategic programs this year, with a focus on downstream development and harnessing the potential of rare earth metals − byproducts of tin mining.
“We have two strategic programs, the first being downstream development. We have recently introduced another downstream tin product, solder powder,” CEO of PT Timah, Ahmad Dani Virsal, said on Thursday, April 4, 2024.
The downstream development is facilitated through their subsidiary, PT Timah Industri, located in Cilegon, Banten, which has previously produced downstream tin products such as tin chemical and tin solder.
In addition to the development of new downstream tin products, PT Timah will also optimize the utilization of tin byproducts, particularly zircon.
“We will also leverage byproducts such as zircon in our tin mining activities, with an estimated monetization of around 944 tons in 2024,” Virsal said.
PT Timah disclosed that the company currently holds a stock of tin byproducts obtained from the tin mining process. These byproducts will be reprocessed to meet the minimum specifications for zircon mineral sales.
PT Timah is conducting research on tin byproducts, including rare earth metals.
Daswir Syarif, Senior Vice Preaident for Strategic Management, Research, and Business Development at PT Timah, said that every tin mining operation yields byproducts such as monazite, zircon, ilmenite, and several other minerals.
He highlighted that research on tin byproducts is part of the energy transition efforts, where these byproducts can be utilized as raw materials for electric vehicles (EVs).
In addition to the aforementioned strategic programs, PT Timah will implement several plans throughout 2024, as previously outlined by Fina Eliani, Director of Finance and Risk Management at PT Timah.
In 2024, the company will focus on increasing production through the addition of mining equipment and the opening of new locations, implementing a recovery plan and sustainable efficiency programs.
The management is optimistic that the company’s performance will improve according to targets.
It is formulating strategies and policies to ensure Timah’s performance remains sustainable.
Production enhancement programs are ongoing, including the opening of new locations, increasing primary mining production capacity through mining and processing equipment upgrades, and renewing existing Mining Business Permits (IUP).
Furthermore, site surveys and land ownership inventories for new land-based mining openings are being conducted, along with efforts to enhance recovery by reprocessing tailings as a strategic measure to improve performance.
“Sustainable efficiency programs from upstream to downstream are continuously pursued,” Fina said.
In tandem with the government’s efforts to improve tin mining and trading governance amid unauthorized mining activities, the company remains committed to enhancing mining governance.
“We will intensify asset security and law enforcement, as well as collaborate with artisanal miners to reduce unauthorized mining in mining concession areas, and remain consistent and committed to taking strategic steps to enhance operational and production performance,” Fina concluded.
