PT TIMAH Tbk
The Following excerpted from Company Website:
As the Holding Company, Timah forms a center for the formulation and control of corporate strategy, and ensures that a synergy exists between the operations of the vatious subsidiary companies in the process of creating and adding value. Timah determines the overall corporate structure of the Group, overall marketing strategies, budgets and allocation of fund, it manages corporate finances and the financial affairs of its subsidiaries, it sets the Group's values and norms, and it determines the course of corporate development of its subsidiaries through alliances and/or acquisition.
The World's Largest Integrated Tin Mining
Timah holds Mining Authorization until 2025 over more than 7700 square kilometers. The integration of all business functions from exploration to marketing makes Timah exceptionally well placed to play a leading role in the major growth areas of the changing marketplace.
Exploration continues to be one of Timah's keys to survival. The Company now conducts a two-pronged program of exploration. It instituted an active off shore and inland exploration program intended to extend the Company's tin reserves, and began prospecting for other minerals.
Exploration for tin is concentrated around Bangka Island. The geophysical surveys also gives cause to believe that the probability of finding deposits outside the "traditional" tin belt is high. For other minerals, exploration for gold commenced in the Province of Aceh, North Sumatra, Central Kalimantan, West Kalimantan, East Kalimantan, and East Java. Preliminary surveys for coal are also underway in East Kalimantan.
Starting in 1996, Timah puts into use modern GPS(Global Positioning System) devices to facilitate exploration activities. This tremendously increased the efficiency and accuracy of mapping and measuring. Data from the laboratory tests and GPS is captured on computer to produce highly accurate geological maps for systematic and efficient mining.
The mining operations is undertaken with a fleet of 21 dredges constitutes the world's largest offshore mining fleet and 300 inland gravel-pump contractors. In 1996 Timah achieved record-breaking performance in tin production, volume oof earth moved, and operating hours for the dredge fleet.
In 1996 the Company completed the installation of the additional seventh furnace. With the addition of this new furnace, the Smelter capacity is now 50.000 tonnes, making it the world's largest.
In the last five years productivity has increased significantly. Eventhough fewer people now work for the Company, more tin is being produced. Manpower productivity had increased from 3.0 tonnes per employee in 1992, to 7.2 tonnes in 1996. Timah is now one of the world's lowest cost tin producers.
NOTE(s): Although TINS.JK appears to enjoy robust trade, PTTMF currently has had almost non-existant volume therefore, ADR quote may lapse out of date with TNIS.JK, As with all foreign ADR's it is usually a good idea to check ADR against the foreign quote (e.g then multiply by the current USD exchange rate.)
Current exchange rate for Indonesian Rupiah/USD (as of 03-12-07) = (about) 0.00011
This board can also serve as a forum to discuss the tin market in general and other tradable miners that have tin.