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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.
Investing in Tin Seminar – notes on the new generation of tin mine projects (09 Dec 2011)
More than 80 delegates attended the ITRI seminar aimed at investors and analysts held in London on 5 December. After an overview presentation highlighting the need for more investment in new mine supply over the next few years, six members of the ITRI Explorers and Developers Group gave short presentations outlining their plans to bring on-stream new mines in Australia, Spain, Germany and Morocco. Australia could be the main single source of new mine production in the next five years, helping to offset expected decline in production in the big two current suppliers, Indonesia and China. Brief highlights of the presentations follow below:
Consolidated Tin Mine is developing a project in the Herberton area of northern Queensland for open pit mining of low grade deposits, with a number of mining sites to be served by a central processing unit.
Eurotin is exploring two deposits in Spain which are at the southern end of the West European tin belt running from Cornwall in the UK through Brittany in France. The Oropesa project is a hardrock
deposit, while Santa Maria is a mix colluvial and alluvial deposit.
Kasbah Resources now has full control of the Achmach project in Morocco and has announced it had agreed to acquire exploration permits for the Bou El Jaj prospect 8 km from its core site.
Stellar Resources which owns 60% of the Heemskirk project in Tasmania, has recently agreed to acquire the balance from long-time JV partners Gippsland. Heemskirk, located very near the Renison mine with good transport and power infrastructure, is one of the higher grade tin projects, with a JORC resource across three deposits of 4.4 million tonnes of ore grading 1.1% tin.
Tin International, established by Deutsche Rohstoff and Asia-Pacific investors earlier this year is planning an ASX launch in Mid-2012. Tin International controls two very large low grade projects, Gottesberg and Geyer, in Saxony, eastern Germany, with some 180,000 tonnes of contained tin. Geyer also has potential by-product indium, zinc and gallium.
Venture Minerals’ Mount Lindsay project based in NW Tasmania currently has an estimated combined tin/tungsten resource of 120,000 tonnes at 0.2% cut-off grade, falling to 61,000 tonnes at 0.45%.
More details on planned Indonesian tin contract (09 Dec 2011)
The Indonesia Commodity & Derivative Exchange (ICDX) will launch its physical tin contract on January 15 2012. Three tin producers , PT Timah, PT Koba Tin and PT Bukit Timah are ready to trade their tin in the Jakarta physical tin market. Four tin traders, namely Mitsubishi, Toyota, Noble Group and Credit Suisse are looking to use the tin contracts.
Indonesian November exports lower than expected (09 Dec 2011)
Preliminary data from Indonesia’s trade ministry surveyors showed that 2,202 tonnes of tin were shipped in November, 75% lower than in November 2010 and 60% down from October 2011 – lowest since early 2007 when the export licencing scheme was implemented. The cumulative January-November total was 80,917 tonnes, down 4.5% compared to the first eleven months of 2010.
Indonesian exports in full flow (02 Dec 2011)
The export halt by Indonesian tin producers which began at the start of October has broken down. A spokesman for the Indonesian Tin Association (ITA) told Reuters that members will ship 7,000 tonnes of tin ingots overseas this week. Since the start of October state company PT Timah has continued to export large volumes of tin, while PT Koba tin made its first shipment last weekend.
Good news from the end of the African tin supply chain (09 Dec 2011)
The iTSCi supply chain traceability scheme has been operating in Rwanda and the Democratic Republic of Congo’s Katanga Province for some time now, with plans for a further rool-out and pilot studies underway in other DRC provinces and neighbouring countries.
In Rwanda some 25,000 workers at over 400 sites are now covered by the scheme, while in Katanga 123 sites in seven target areas with at least 12,000 miners are involved.
While control of “conflict minerals” is the main objective of the iTSCi, other side benefits have been observed with the implementation of the scheme. Stakeholders noticed that cases of fraud and thefts have been reduced, there is less hassle in the movement of ores and the SAESSCAM, the government agency monitoring artisanal mining, is now able to exercise better control.
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