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Indonesia mulls establishing own tin market
Last Updated(Beijing Time):2007-07-02 10:58

The Indonesian government is assessing a plan to establish its own tin exchange to reduce reliance on London and Kuala Lumpur bourses, an official said Friday.

"We are now working on a plan to establish the Jakarta Tin market. We are hopeful that the market will exist in the next five years," director general of international trade Diah Maulida was quoted by leading news website Detikcom as saying.

"We are the world's largest tin supplier, but we still take reference from bourses in London and Kuala Lumpur."

Indonesia's tin production is expected to fall by 25 percent to 90,000 tons this year following major crackdowns on illegal mining on Bangka island, the country's largest source of tin.

Source:Xinhuanet 
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