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REFILE-Yunnan Tin JV to set up $10 mln smelter in Myanmar

Mon Nov 26, 2007 8:32pm EST
 
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(Refiles to add dropped word in second paragraph)

SINGAPORE, Nov 27 (Reuters) - Singapore's Tin Industries Pte Ltd, the city-state's first tin refiner, will set up a $10 million smelter in Myanmar in 2008 to boost output, its director told Reuters on Tuesday.

"We've confirmed to invest $10 million in Myanmar to build a smelter with an annual capacity of 12,000 tonnes. Production will start in September 2008," said Petrus Tjandra.

"We invest there because there's a confirmed reserve. By 2009, STI can at least churn out 24,000 tonnes a year," he said.

STI is a joint venture between China's main producer, Yunnan Tin Ltd. 000960.SZ, and local tin firm KJP International Pte. Ltd. It has an installed capacity of 36,000 tonnes a year but output may only reach 6,000 tonnes in 2007 due to supply constraints from its main supplier Indonesia.

The company aims to produce 18,000 tonnes in 2008, with the completion of the smelter in Myanmar.

(Reporting by Lewa Pardomuan; Editing by Kim Coghill)

 

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