msc raises mining output - home energy storage

On the occasion of the rebound in global tin prices, Malaysian Smelting Company Bhd (MSC)
It is planned to increase mining production by 30% in the fiscal year ending December 31, 2019 (FY19).
According to Patrick Yong, chief executive of the global tin smelting complex, the group is expected to achieve this goal. Part of the reason is that it has taken measures to improve the efficiency of tin ore processes.
He told StarBiz that MSC is expected to further increase its tin productionin-
Concentrate by maintaining new daily mining production throughout the year.
"Since we have improved the efficiency of maximizing the recovery production of tin ore, the production cost per ton will also be reduced in the future," he said . ".
Hoi An will look for strategic opportunities to enable the group to expand its mining capacity, especially in Malaysia, Yong added.
He expects that in the next two to three years, the company will spend about 10 million yuan in capital expenditures to further increase its mining production to 10 tons per day.
According to the statistics of Kuala Lumpur Tin City, the average monthly price of tin this year is on the rise.
In January, February and, the average price of tin soared to $20,417, $21,268 and $21,317 per ton, respectively.
This is compared to the average price of $20,067 per ton last year.
MSC owns and operates Rahman hydraulic Tin Sdn Bhd (RHT)
China's biggest open
It is located in the mine pit of penkaran Huru, per state.
Since July 2018, RHT has successfully increased the daily mining production of tin from an average of 8 tons to more than 9 tons per day.
Used to be 4 tons per day.
This is achieved with minimal capital expenditure and improved efficiency of the mining process.
As a result, the total output of MSC mine in fiscal 18 increased by 6% to 2,355 tons from the previous 2,226 tons.
Yong pointed out that the main goal of MSC is to increase the daily production of RHT and explore new tin sources in Malaysia.
"We will start from small things --
Through our 80%-large-scale tin mining activities at Sungai Leming in Pahang
SL Tin Sdn Bhd, a wholly owned subsidiary.
"Mining and first commercial production are expected this year.
This will help increase tin production . "
On last September, a memorandum of understanding was signed by RHT (MoU)
Thunderbolt with Menteri Besar (MB Inc)
The two leased land covers an area of about 100 mu and 323 mu respectively.
In the short term, this will be used for waste dumping and further extraction of tin ore from waste.
The move will also free up space in existing mining leases to enable the company to increase mining productivity.
The MOU will pave the way for both parties to launch strategic alliances and other joint ventures.
Tin mine has been a key profit contributor to MSC, according to Yong.
In fiscal 18, it contributed a net profit of 25 yuan.
3mil, accounting for more than 70% of the group's net profit.
However, during the reporting period, net profit in the tin mining sector was 27% lower than in 2017.
This is partly due to the rise of ringgit against the dollar, which led to the decline in ringgit prices.
In 2018, the average price of tin was $20,067 per ton, slightly higher than $20,036 in 2017.
Regarding the status of MSC's new smelter in Basheng pulouinda, Yong said preliminary testing and refinery works are under way and are expected to be completed within the yearend.
"At the moment, due to the duplication of overhead costs, our smelting department continues to generate higher costs as we operate two plants at the same time, with only one plant generating revenue.
"After our testing work is completed, our goal is to start commercial production in early 2020, but it depends on us getting the necessary licenses from the relevant authorities," he added . ".
Yong pointed out that the group's production and cost efficiency will be significantly improved as the new plant is put into production.
With the new smelting technology, the maximum capacity of MSC will increase by 50%, an increase of 60,000 tons per year.
In addition to reducing labor costs, the furnace is capable of handling larger volumes of feed with a higher rate of reaction.
As for the prospects of the tin industry, Yong said that while welding is still the main application of tin today, a key field of opportunity is the emerging lithium-
Ion batteries for electric vehicles.
"There is a study that shows that the use of tin can significantly increase the storage capacity while increasing the charging speed of the battery.
"According to a study by the International Tin Association, other areas of growth for tin include the generation and storage of renewable energy, as well as advanced computing and robotics technologies," he noted . ".
In fiscal 18, the group's net profit doubled to 34 yuan. 3mil, from rm16. 1mil a year ago
This is due to the improvement of the group's smelting department, net profit of 10 yuan.
The net loss was 22 yuan.
8mil last year.