Falling Tin Prices Slow Indonesia’s Mining Industry

Reuters reported as tin prices continue to fall smelters in Indonesia cut production and profits moving on to new businesses.

As quoted in the market news:

From 2009 until April last year, benchmark prices for tin, mainly used in soldering for electronics, more than tripled to a record high above $33,000 a tonne, which meant hefty profits for the welter of smelters on the Bangka-Belitung islands, the world’s largest tin-producing region.

Prices, however, came crashing down by mid-2011, and Murod’s six smelters now process half as much ore as a year ago.

Click here to read the full Reuters report.