Yunnan Tin and PT Timah establish strategic partnership
Yunnan Tin Company (YTC) and PT Timah, traditionally the two largest producers of refined tin globally, have established a strategic partnership to strengthen their respective positions in the market.
A delegation from PT Timah and parent company MIND ID visited China in August in a visit coordinated by ITA China, and the delegation separately travelled to Kunming to meet YTC. This development follows from YTC’s visit to Indonesia in July when the companies agreed to implement a Memorandum of Understanding after the International Tin Conference.
The companies agreed to focus on improving efficiency and competitiveness across the supply chain from mineral resource utilization, mining, smelting and refining, trading, and development of downstream products.
YTC President Luke Liu highlighted the broad range of fields covered by the agreement and its role in encouraging the development of the global industry.
MIND ID President Director Hendi Prio Santoso and PT Timah President Director Ahmad Dani Virsal made statements recognizing the added value the strategic cooperation will provide to both the Indonesian and international tin industries. The company stated the partnership will increase production capacity and efficiency, benefitting from YTC’s technical expertise, and will “open new access to wider international markets”.
The International Tin Association remains committed to facilitating discussions on key industry opportunities and challenges. Cooperation between two of the largest players is a positive move towards sustainable development and industry growth.
