Timah cancels to acquire Australian mining business
President Director of PT Tambang Timah, Wachid Usman said that the company was canceled a plan to acquire a mining business in Australia because it is no longer profitable.
The Australian mining field is an old mining site which had been abandoned for a long time with a remaining tin reserve of about 11,000 million tons.
Now, the state-owned tin mining company was still trying to find new mining locations both at home and abroad such as in other countries like China, Cambodia, Vietnam and Myanmar.
PT Tambang Timah is a child company of PT Timah Tbk at Banka Indonesia-based focussed on alluvial placer tin (cassiterite) mining and tin refining, with recent diversification into hard-rock gold exploration and other mineral resources (www.timah.com).
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