Timah Cooperates with Canadian Company to Develop Rare Earth Minerals

PT Timah Tbk (TINS) is facing challenges in developing its rare earth minerals business due to difficulty finding partners, limited technology, and the need for significant funding.

Although the company had explored cooperation with a China-based mineral processing company, the effort has reached a dead end. Therefore, Timah is now seeking new investors and exploring collaboration with a Canadian company.

In partnership with this Canadian mineral processing company, the state-owned miner has conducted a feasibility study to establish a rare earth metal downstream industry.

However, it refused to disclose the company's name at the moment. "They prefer to be anonymous," Timah Corporate Secretary Abdullah Umar Baswedan said on Wednesday.