Tin in the News (01 February 2013)

Source:  ITRI Ltd

The following is a summary of the information circulated by ITRI Ltd.  For more details and the original text please visit http://www.itri.co.uk.

Survey of forecast tin prices by Bloomberg

A survey of forecast tin prices involving 14 companies conducted by Bloomberg predicted tin price would average US$28,750/tonne, more than US$5000/tonne more than the figure returned by Reuter’s poll.  The bullish sentiment could be due to the inclusion of forecasts by a number of Indonesian exporter who were expecting a sharp fall in Indonesian export.


 Japan imports up in 2012 (01 Feb 2013)

Japan’s imports of refined tin rose 1.6% to 27,096 last year after a sharp fall in 2011.  Imports from Indonesia increased to 54.9%.  The other two main suppliers were Thailand (29.9%) and Malaysia (8.1%).

The Japanese market was considerably disrupted in 2011 by the earthquake and tsunami early in the year and by restrictions in Indonesian supplies.

South Korea‘s first tin tender of 2013 (01 Feb 2013)

South Korea’s Public Procurement Service (PPS) has issued its first tender this year for refined tin with the PPS seeking 200 tonnes of 99.9% metal for delivery to Incheon port by 7 May.  The closing date for bids is 13 February.

The total planned tin purchases in 2013 is 2,200 tonnes, the same as last year.

Metals X Renison growth continues (31 Jan 2013)

Metals X reported a 52% year-on-year increase in December quarter production to 1,800 tonnes of tin-in-concentrate at its 50% owned Renison mine in Tasmania.  Annual production in 2012 amounted to 5,848 tonnes of contained tin, up by 17% on 2011.

Currently the mine has 590,000 tonnes of fully developed ore and 2,100,000 tonnes of capitally developed ore stocks.

Queensland tin projects fast-tracked (31 Jan 2013)

Two Queensland-based companies have announced steps to move forward the start-ups of mine projects in the Mt Garnet area.

Consolidated Tin Mines (CTM) is negotiating a new joint venture arrangement.  Snow Peak Mining (SPM) has acquired the Karaga plant which currently has copper and poly-metallic circuits but can be reconfigured to handle tin ore.  A CTM-SPM JV could potentially produce up to 5,000 tpy of tin-in-concentrate from the Gilian and other local projects.

Meanwhile MGT Resources is on course to commence tin production at its Mt Garnet project in June 2013 following the granting of a mining lease covering the area surrounding its refurbished mill.

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