SHANGHAI– The annual conference organized by the International Tin Association (ITA), Asia Tin Week, held this year in Shanghai from November 6-8, brought together global tin industry leaders, traders from various countries including China, Indonesia, Peru, the US, the UK, and Malaysia. The event addressed critical issues such as market trends, the impact of technology, sustainable development, and the restructuring of the global supply chain.
PT TIMAH Tbk, represented by its Director of Business Development, Dicky Octa Zahriadi, participated as a speaker in the "In Conversation with CEOs" session, alongside Maruano Pero from OMSA, Raj Chg from MMR, Yong Cai from Guangxi Hauxi, Luke Liu from Yunnan Tin Listed, Huanqun Zhang from Gejiu Qiando, moderated by John Jonson from CRU Beijing and Helen Prince from ITA.
The discussion focused on strategic issues that are or will be affecting the tin industry in the coming years. Environmental, Social, and Governance (ESG) principles were a central theme, with a particular focus on how industry players are implementing and committing to these principles. The international community also highlighted Indonesia’s illegal mining activities, raising questions about what new policies the government would implement to address illegal mining, enabling Indonesia to effectively apply ESG principles and standards in its tin mining sector.
In response to this, Dicky Octa Zahriadi, Director of Business Development at PT TIMAH Tbk, stated that with the new government and president in place, PT TIMAH Tbk believes that Indonesia's tin mining sector will continue to strengthen its commitment to sustainability, particularly in addressing illegal mining through better regulations and policies. This, he added, will require support from the Indonesian government and supply chain transparency to ensure that all tin production comes from clear and responsible sources in line with Good Corporate Governance (GCG) principles.
Before the session concluded, the results of a poll conducted among conference participants regarding the LME Cash tin price projection for 2025 were announced. Participants expressed strong optimism about the stability of world tin prices, with 52% of respondents expecting prices to remain stable in the range of $30,000 - $36,000 per ton.
The 2024 Asia Tin Week event is expected to promote global collaboration in advancing a sustainable tin industry. The hope is that TINS industry players worldwide, including those from Indonesia, will strengthen their commitment to sustainability, transparency, and technological innovation to meet the needs of the global market. (*)
