Indonesian state-owned tin producer PT Timah announced that, driven by rising tin prices, the company's 2025 operating profit reached 1.91 trillion Indonesian rupiah (approximately 798 million yuan), up 0.8% YoY. PT Timah's 2025 total revenue was 11.55 trillion Indonesian rupiah (approximately 4.843 billion yuan), up 6.41% YoY. The company stated that domestic clients accounted for 5% of its sales, with the remaining 95% being export sales. PT Timah announced that its refined tin production fell 5.8% YoY to 17,815 mt, mainly due to persistent rampant illegal mining activities both offshore and onshore. By region, onshore production was 7,098 mt (down 8.1% YoY), offshore production was 11,537 mt (down 1.5% YoY), and the overall structure remained largely stable.

On April 16, Ye Jianhua, Director and Supervisor of SMM's Industry Research Department, Feng Chundi, Expert of SMM's Industry Research Institute, and Wu Tao, SMM Overseas Marketing Manager for Copper and Tin, visited Mining Mineral Resources (MMR) for a field trip and exchange, where they received a warm welcome from MMR's leadership. During the exchange, MMR and SMM engaged in in-depth discussions on the current status of the strategic minor metal industry and cross-border supply chain cooperation. MMR has been deeply engaged in compliant mining of critical minerals for over 15 years, with a strategic focus on three key minerals — tin, tantalum, and tungsten. The company holds multiple mining licenses in mineral-rich regions of the DRC, with concentrated resource deployment and exceptional endowment. The enterprise strictly adheres to compliant mining, full-process traceability, and international operational standards, ensuring long-term stable and compliant mine operations. SMM has long been deeply engaged in non-ferrous and rare metals, with core coverage spanning price quotations, industry surveys, and market analysis, comprehensively empowering global mineral trade and industry chain integrated services. Leveraging their respective business strengths, both parties exchanged practical experience on ex-China mineral development, compliance system building, raw material circulation coordination, and industry development trends, laying a solid foundation for subsequent industrial synergy and resource collaboration. Mining Mineral Resources (MMR) Overview Mining Mineral Resources (MMR) has been deeply engaged in compliant mining of critical minerals for over 15 years, with a core focus on the 3T strategic minerals (tin, tantalum, and tungsten). The company holds a portfolio of multiple mining licenses in mineral-rich regions of the DRC: tin (14 licenses covering 2,800 sq km), tantalum (6 licenses covering 400 sq km), and tungsten (1 license covering 300 sq km). The company upholds compliant procurement, full traceability, and international standard compliance systems, building a solid foundation for business operations. Key Tin Producer in Africa • 11 mechanized mines (including open-pit and underground mines) • Annual tin concentrates capacity: 10,000 mt Annual trading volume: 6,500 mt; annual mechanized mining production: 3,500 mt. Mechanized Mining Operations 8 beneficiation plant areas with a combined feed capacity of over 1,500 mt per hour; monthly tin concentrates production of 300 mt; creating employment opportunities and empowering inclusive community development. Smelting Production and Global Supply LME Grade A tin equivalent; Responsible Minerals Initiative (RMI) certified smelter; annual refined tin capacity: 4,500 mt. Tantalum Mining Operations The only mechanized tantalum ore beneficiation plant in the DRC; capacity: 20 mt per year of high-grade tantalum concentrates (grade 30% and above); equipped with modern laboratory detection and quality assay facilities. Ore-to-Alloy Entire Industry Chain Lead-free and tin-lead solder alloys, available in bars, wires, electrodes, and casting ingots. The only enterprise in Africa with a complete ore-to-alloy entire industry chain. Corporate Social Responsibility MMR is well aware of its significant social responsibility to the communities in the mining areas. The corporate social responsibility system is built on four core pillars: healthcare, education development, infrastructure improvement, and entrepreneurship empowerment. Scheduled to be held on October 13-14, 2026 in Lusaka, Zambia. Welcome to join us~ Conference Contact : Wu Tao: 18270916376 jennywu@smm.cn

[SMM Data: Complete Summary of SMM March 2026 Import and Export Data] SMM March 2026 import and export data showed: copper cathode net imports were lower YoY; primary aluminum imports reached 255,000 mt, up 14.8% YoY; refined lead imports surged significantly; zinc ingot imports were up 220% MoM; tin ore imports were up 122% YoY; silver imports were up 93% MoM; steel exports rebounded MoM; PV module export value was up 122.7% MoM; silicon metal exports were up 43% MoM, and magnesium exports hit a multi-year high. Among new energy materials, exports of LiPF6 and artificial graphite surged significantly.

Data from the online customs statistics query platform showed that China's refined tin imports in March 2026 were 3,287.47 mt, up 51.62% MoM and up 56.50% YoY. China imported 2,169.43 mt of refined tin from Indonesia in March, up 43.67% MoM and up 28.35% YoY. China imported 525.49 mt of refined tin from Peru in March, up 50.20% MoM and up 425.19% YoY. Export side, China's refined tin exports in March 2026 were 2,191.46 mt, up 80.25% MoM and up 31.01% YoY. China exported 1,234.01 mt of refined tin to Hong Kong in March, up 208.66% MoM and up 2,143.13% YoY. China exported 285.1 mt of refined tin to South Korea in March, up 49.80% MoM and up 106.55% YoY. (Wenhua Comprehensive)

[SMM Morning Meeting Minutes: Last Week Tin Prices in and outside China Showed Wild Swings, Dominated by Repeated Shifts in Macro Sentiment]

[SMM Tin Midday Review: Both Macro and Fundamental Performances Stabilized, Tin Prices Continued Wild Swings Fluctuating Trend in the Morning]