Tin News

Tin in the News
This week we would like to draw our reader's attention to the opening of registration for ITRI's "Asia Tin Week" in Shanghai this November. ITRI has also distributed a press release detailing the findings of ITRI China's recent trip to Wa county in Myanmar.
We also report Q2 production figures for Minsur's Brazilian subsidiary, Taboca, protests in Bolivia by local mining cooperatives, the first production of tin by Aus Tin Mining from its Granville project and news of the acquisition of Australia-based tin explorer, Kasbah Resources.
Tom Mulqueen - Analyst, Markets
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Join us this November at ITRI's Asia Tin Week in Shanghai


21 - 24 November 2016, Shanghai
Sheraton Shanghai Hongqiao Hotel
Asia Tin Week is the 4th ITRI event held in China following 2011 in Hangzhou, 2013 in Kunming and 2015 in Shanghai. More than 300 delegates from China and other parts of the world are expected to attend.
Click here to view the program and register
Asia Tin Week comprises two main formal sessions, both featuring simultaneous translation in English and Mandarin: The ITRI Asia Tin Summit, focussing on industry and market issues, and the China International Solder Technology Forum. Visits to the Shanghai Future Exchange or Yu Gardens are included as part of the event programme.


Press release: Myanmar tin production may have reached peak


18 August: Information released today by ITRI provides insight on recent production trends from the Man Maw tin mining district, in Wa county, Myanmar, following an ITRI China visit to the site.
The full press release can be downloaded here
In the short-term, output from Wa seems stable but production and shipments will be reduced in the rainy season which began in June and usually continues to October. The longer-term outlook for production in Wa mainly depends on whether there are new resource discoveries in the next few years. Otherwise, production may peak in 2015-2017 and then decline.


Taboca production flat in Q2


15 August: Minsur's Brazilian subsidiary, Taboca, produced 1,514 tonnes of refined tin in Q2 2016, up 1 tonne on the same period of 2015, according to the company's consolidated operating results, released earlier this week. Output from the Pitinga mine totalled 1,680 tonnes of tin-in-concentrate for the same period, up just 8 tonnes on 2015.
The volume of ore treated at the Pitinga mine in Q2 rose 8% to 1.59 Mt, while tin head grades rose 1% to 0.21% Sn relative to the second quarter of 2015. However, this was offset by lower tin recoveries hence the marginal increase in tin production for the quarter. Minsur's refined tin production from Brazil for the first half of the year totalled 2,410 tonnes, down 8% year-on-year, while mine production fell 3% to 3,174 tonnes.
Quarterly cash costs at Pitinga, net of by-product credit, rose 22% year-on-year to US$16,885, due to a 21% fall in NbTa production and the extraordinary cost of running diesel generators for electricity, both factors being a result of power supply issues during essential repairs at the mine's hydroelectric plant. However, the company has reported that reconstruction of the power plant's dike remains on schedule, with completion targeted for the third quarter of the year. A flotation plant expansion, designed to increase production capacity of Niobium and tantalum alloy at Pitinga to 4,400 tpy, is also expected to be in operation by the end of 2016.

Kasbah acquired by AMR

17 August: Tin explorer Kasbah Resources Limited, 75% owner of the Achmmach Tin Project in Morocco, has announced its acquisition by TSX-V listed Asian Mineral Resources (AMR), which holds a 90% interest in the operating Ban Phuc Nickel Mine in Vietnam.
The mutually agreed deal will see the exchange of Kasbah shares for a combination of AMR shares and CHESS Depositary Interests (CDI) and Asian Minerals warrant CDIs options. The new Asian Mineral Resources will see Kasbah shareholders with 52.2% ownership and will be dual-listed on both the Australian Securities Exchange (ASX) and the TSX Ventures Exchange (TSX-V). Pala Investments Ltd is the largest current shareholder of AMR and, has committed to providing a pro rata share of any equity raising in relation to the Achmmach Tin Project, as well as an interim A$1,000,000 bridging loan to Kasbah as part of the deal.
At the beginning of August, Kasbah announced an updated DFS for the Achmmach project, which included exploitation of higher average tin grades and a drastically reduced project Capex based on a multi-stage "Small Start Option" (SSO) development plan.
AMR's Chairman, Mr Jim Askew, commented: "We are very excited about the opportunity to team up with proven explorers and resource developers like Kasbah, as well as strategic players such as Toyota Tsusho Corporation and Nittetsu Mining Co. Ltd, and transfer our operating experience and know-how to the successful development of the Achmmach Tin Project. Following completion and the positive results of the DFS, as a matter of first priority, the combined company will proceed with considering project financing options for the Achmmach Tin Project."


Bolivian co-operatives clash with government


16 August: Roadblocks and violent protests have been reported in Bolivia in response to changes to laws governing co-operatives in the country, according to local news sources. Mining cooperatives play an important role in Bolivia, which produced 9,093 tonnes of tin-in-concentrate from mine operations in the first half of 2016, down 8% on the same period of 2015, according to recent government statistics. The co-operative share in total production was 17%.
The government's recent amendments to the co-operative act include a chapter encouraging co-operative members to join a workers union. This has been rejected by the mining co-operatives over fears that this would cause conflict within the co-operatives. However, underlying issues have been raised relating to a lack of specific changes to the mining law lobbied for by the cooperatives. These include issues surrounding taxation, mining rights and a large residual debt from co-operatives to the state mining company, Comibol. One issue highlighted is current limits to the ability of co-operatives to associate with the private sector.
ITRI View: While protesting by miners in Bolivia is not uncommon, the recent trouble stands out as it highlights the increasingly tense dynamic between the Bolivian government and the co-operative mining sector. Aside from the outlined regulatory disagreements, there is ongoing conflict and disagreement at the state-run Colquiri mine between salaried miners and the co-operative members working other parts of the mine. The low tin price has simply served to raise these issues to the fore as income from mining has seen a sharp decline. Despite the fall in mining output, Bolivia's refined tin production rose 10% to 8,712 tonnes of refined tin production in first half of the year, helped by the improving performance of the Vinto smelter's Ausmelt furnace.


11th International Tinplate Conference programme announced


5 – 6 October 2016, Copthorne Tara Hotel London Kensington, London, UK
Around 120 delegates are expected to attend the forthcoming conference, for which a detailed programme can be downloaded at the link below..
Click here to see the programme
The two-day conference will attract those interested in understanding the key commercial and technical tinplate developments and provide opportunities to network with the global industry.