Economic recovery process due to the impact COVID-19 pandemic is predicted to happen relatively quick. Various financial institutions in the world has predicted that the global economic will recover in 2021.
In line with the prediction of various financial institutions in the wolrd, BI has also predicted that Indonesian's economic will have a positive growth of 4,3% - 5,3% in 2021. This belief is based on the economic recovery at the third quarter to end of 2020. However, COVID-19 pandemic will still become an issue in 2021, that will also influence the global and national economic growth.
In 2021, the Company established ore productions target of 47,281 Tons Sn and tin metal productions of 51,815 Metrics Tons.
PT TIMAH Tbk's opportunities are the following:
- Is the world’s first largest tin producer in 2019
- Acquiring a wide IUP and CnC certified
- Broad knowledge related to exploration, exploitation, processing, smelting, refining and marketing activities.
- High quality products through a well-known brand in the market.
- Changes in becoming a member of Holding mining industry.
- Acquiring strategic non-operational assets.
- Acquiring a complete supporting operational means.
- The group acquiring a broad and diverse portfolio.
- 80% of Human Capital (HC) is young age.
Based on the explained assumptions and with the opportunities, PT TIMAH Tbk carry a high optimism in 2021. The Company believes that there are many opportunities to be optimized in order to improve the Company’s performance. In other words, PT TIMAH Tbk has an excellent prospect. This is based on the following strengths:
- Large potential for deep alluvial tin and primary tin.
- MInning of shallow marine reserves through Cutter Suction Dredges (CSD) and Integrated TK for spotted reserves offshore.
- Improvment on mining recovery from low content tin ore.
- Opportunity on non-tin mining market (mineral associated with tin and rare earth elements) as well as tin downstream tin products both in the domestic and global markets.
- Promising potential of tin reserves whithin and outside of the country (such as Myanmar).
- Conducting operational excellence in all chain walues of the Company.
- The potential of world tin market that is predicted to grow and tin prices are predicted to increase in the future.
- Opportunity to serve customer needs of premium and specific products (market driven).
- Opportunity to synergy with SOE related with holding mining.
Approaching 2021, the Company has determined several targets, both operational and financial performance which are stipulated in RKAP 2021. The targets are adjusted to the assumption of economic and business development in 2021. In general, the Company development targets are adjusted to industrial development.
To achieve the above-mentioned targets, the Company has developed the following strategies :
- Increasing confidence in reserve level.
- Increasing production and sales of tin metal.
- Implementing advanced technology in the Company's operational activities.
- Conducting cost optimization in all business chain.
- Optimizing performance and development of subsidiaries.
- Optimizing the management of the Company’s funds.
- Increasing HR capability in all chain values.
- Optimization foreign tin mining .
- Intensifies the Management of Environmental and Occupational Safety.
- Optimizing synergy with holding mining.