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The Ministry of Energy and Mineral Resources (ESDM) plans to halt the export of tin in ingot form. However, exports of pure tin ingots with a 99.9% stannum (Sn) content will still be permitted.
Pure tin ingot production has increased by 36.6% this year. The average price reached US$41,256 per ton from January to April 2022.
This price is 36.6% or US$11,049 per ton higher than the average price last year. In 2021, the average price of tin ingots was recorded at US$30,207 per ton.
The 2021 tin price also surged 76.5% from the previous year. The average price of tin ingots in 2020 was recorded at US$17,118 per ton.
The government currently plans to increase the tin royalty rate, which is currently flat at 3%. The increase will be implemented progressively, and the figures are currently being discussed with industry players.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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