(Source: ITRI 16 March 2010)
Completion of Metals X – Yunnan Tin deal further delayed (10 Mac 10)
Metals X announced that there is a further delay in completing a deal to form a 50:50 JV with Yunnan Tin Group (YTG) and partners to control its Tasmanian tin assets. The formation of the JV – under which YTG we would pay A$50 million for its stake – was first announced last July, but completion of the deal was initially delayed by the need to obtain government approvals in Australia and China. The JV documentation was signed on 28 January with the final settlement on 9 March. At that point, YTG was partnered with Parksong Mining and Recycling Company of Hong Kong for its share of the JV in YT Parksong Australia Holding Pty Ltd (YTPAH). The present delay is due to YTPAH encountering issues with the timely transfer of part of the settlement funds. A 45-day extension has been agreed upon.
Pirquitas tin production to start in Q2 (10 Mac 10)
Silver Standard Resources said that it will start producing tin concentrates at its Pirquitas silver-tin-zinc mine project in Argentina in Q2 2010. The mine started commercial production of silver on 1 December 2009. At full capacity the mine will produce 10 M oz of silver and 2,500 tpy of tin-in-concentrate.
South Korea agency announces tender result (05 Mac 10)
The Public Procurement Service (PPS) of South Korea announced that it has bought 200 tonnes of >99.9% purity tin ingot of Malaysian origin from Hanwha Corp scheduled for May 31 arrival at Busan. The purchase was done via a tender closed last Friday. It paid a premium of US$530 over the LME cash prices on a CIF basis.
LME lists Kundur brand (05 Mac 10)
The LME has approved the brand listing of the tin manufactured at PT Tambang Timah’s Kundur smelter in Indonesia. The smelter is able to produce 5,513 tonnes of tin a year in the shape of ingots with a piece weight of 25 kg and bundle weight of 1,000 kg.
Help this site to stay free & run by buying me a cup of coffee!mfBeer Joomla! Plugin
|
to get Mozilla Firefox