Novosibirsk Tin volumes down 72%
- Publishing Date
- 29 May 2009 10:27am GMT
- Author
- Mining Journal
Novosibirsk Integrated Tin Works, Russia's sole producer of the metal, said on Thursday first-quarter sales volumes declined by 72% from the year-earlier period as demand slumped.
First-quarter sales totalled 122.3t, compared with 432.3t a year earlier. However, the company said it expects demand to revive in the near future.
Last year the group produced 1,405t of tin, down from 2,480t in 2007, due in part to a shortage of tin concentrate.
The company defaulted on a rouble bond during last year's liquidity crunch, and it is currently restructuring this debt.
First-quarter sales totalled 122.3t, compared with 432.3t a year earlier. However, the company said it expects demand to revive in the near future.
Last year the group produced 1,405t of tin, down from 2,480t in 2007, due in part to a shortage of tin concentrate.
The company defaulted on a rouble bond during last year's liquidity crunch, and it is currently restructuring this debt.
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