Latest news with #tin
Yahoo
19-07-2025
- Business
- Yahoo
Energy Transition recommended as preferred bidder for Spanish Penouta mine acquisition
Australian Securities Exchange (ASX)-listed company Energy Transition Minerals has announced that its subsidiary, Energy Transition Minerals Spain, has been recommended as the preferred bidder to acquire the Penouta tin-tantalum-niobium mine in Spain. The recommendation by the court-appointed administrator is part of the auction process for the assets of Strategic Minerals Spain, which is currently in administration. The Penouta Mine, located in Galicia, Spain, includes both permitted and currently suspended sections. The bid status places Energy Transition Minerals Spain in a favourable position ahead of a live auction scheduled for 29 July 2025. Should its bid remain preferred, the company expects to be declared the acquirer of the productive unit of Strategic Minerals Spain by the court by October. The offer for the mine is up to €3.6m ($4.1m), which includes a €2.5m fixed consideration, up to €1m in contingent payments and €100,000 coverage for employee liabilities. A deposit of €500,000 has been lodged, which is refundable under certain conditions but forfeitable if the company's bid is not selected or if it withdraws post-selection. The company has also committed to covering care and maintenance costs of up to €1.2m for a maximum of 12 months. Completion of the transaction is contingent on several conditions including legal, regulatory and creditor approvals. The offer will be funded from Energy Transition Minerals' cash reserves and the transaction is expected to be completed before the end of 2025. The deal aligns with Energy Transition Minerals' strategy to build a diversified portfolio of critical minerals projects, complementing its core asset, the Kvanefjeld rare earths project in Greenland. "Energy Transition recommended as preferred bidder for Spanish Penouta mine acquisition" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
18-07-2025
- Business
- Yahoo
Tin shipments from Myanmar's Wa State to resume after two-year ban
The International Tin Association has indicated that tin shipments from Myanmar's Wa State are expected to resume in the coming months, following a suspension that has lasted nearly two years, reported Reuters. This development comes amid speculation by traders that mining activities will recommence, which has already influenced global tin prices. Myanmar is recognised as the world's third-largest tin producer, with Wa State accounting for 70% of the country's tin exports. The United Wa State Army (UWSA), which governs much of Wa State, halted mining operations in August 2023 to conserve mining resources. International Tin Association senior market intelligence analyst Tom Langston said: "After limited progress in recent months – with the elevated licensing fees creating a stumbling block – we understand that several operators at Man Maw have now secured three-year mining permits." He highlighted ongoing strict controls on the movement of equipment and personnel as factors that could still affect the resumption of shipments. Ye Myo Hein, a senior fellow at the Southeast Asia Peace Institute, noted that the UWSA, associated with the ethnic Wa minority, has agreed a ceasefire with Myanmar's military rulers. The army maintains a force of between 30,000 and 35,000 personnel, equipped with modern weaponry primarily from China, he added. On Wednesday, tin prices fell by 1.6% to $32,775 per tonne on the London Metal Exchange, marking a three-week low. The market is also being impacted by rising London Metal Exchange tin inventories, which have increased by a fifth this year and are at their highest level since August 2021. In June, Chinese-backed militia took control of new rare earth mines in the Shan state in eastern Myanmar. China, the leading processor of heavy rare earths, depends on Myanmar for raw materials to produce critical components such as wind turbines, medical devices and electric vehicles. "Tin shipments from Myanmar's Wa State to resume after two-year ban" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News.com.au
18-07-2025
- Business
- News.com.au
Barry FitzGerald: At Sky Metals you buy one tin project, get one free
'Garimpeiro' columnist Barry FitzGerald has covered the resources industry for 35 years. Now he's sharing the benefits of his experience with Stockhead readers. There's been a known massive slug of tin-dominant polymetallic mineralisation sitting out the back of Bourke in north-west NSW crying out for some attention for more than 50 years. That and a metallurgical breakthrough. It's called Doradilla and its owner since 2019, the Norm Seckold-chaired Sky Metals (ASX:SKY), looks to have cracked the code to unlocking the project's big-time potential thanks to current day tin flotation processing technology. Garimpeiro last took a look at Sky in August last year when it was a 3.2c stock for a market cap of $18.8 million. It has since moved up to 7c for a market cap of $49.7 million, a valuation comfortably underpinned by its advanced Tallebung tin project in central NSW. Sky is coming to an end of a four-month drilling program at Tallebung and results to date suggest there will be a big increase in the last inferred and indicated resource estimate of 15.6Mt grading 0.15% tin for 23,000t contained, once all the data is in. It shouldn't take long after that to give the market a feel for its production capability. Given Tallebung is particularly amendable to ore sorting to bump its grade by a factor of five times, the project is likely to be shown to be capable of making Sky's current market many times over in years to come. It's early days at Doradilla in comparison but Sky's metallurgical breakthrough could well see it emerge as a multi-decade tin producer, possibly with rare earths and other metals as part of deal. The lowdown on Doradilla Sitting in semi-arid goat country, Doradilla was first drilled in the 1970s. It's part of a 17km linear skarn which hosts the Doradilla, Midway and 3KEL deposits – the famous (in exploration circles) DMK Line. Big name tin miners past and present (including Renison, Aberfoyle, North Ltd and YTC Resources) had a crack at unlocking the DMK Line but had basically packed up and left by the 1980s when it was realised that simple gravity separation would not work. Sky managing director Ollie Davies takes up the story: 'We've always been aware of the potential for the Doradilla project to host an extensive tin system, however our ability to progress this asset has been hindered by our ability to unlock the tin through a viable metallurgical processing route.' 'Now, through the application of a combination of conventional gravity, magnetic and new flotation process steps, we have achieved economic recoveries of up to 78% tin.' 'This is an exciting and very significant breakthrough which transforms the potential and outlook for this project. While our primary focus remains squarely on the Tallebung tin Project, where we are in the midst of a major resource expansion drilling campaign, Doradilla is clearly shaping up as a sizeable and very attractive pipeline development asset.' Drawing on Doradilla's historical database and its own work, and in light of the metallurgical success, Sky has been able to report a compliant 'Exploration Target' of 10-15 million tonnes grading 0.32-0.42% tin for 32,000-63,000t of contained metal. The target is based on a 2.5km section of Doradilla and there is another 2.5km of strike length on either side. So potentially at least, an already big exploration target could eventually be tripled. The Doradilla breakthrough comes as the tin market remains as strong as you like. The metal was last quoted on LME at $US33,312/t (three month). So it remains more than three times the copper price. The price jumps around depending on production news from operations in, shall we say, fraught locations around the world. Demand is super strong thanks to growing uses in solar panels and all the circuitry that needs to be connected to deliver AI. New mine developments in desirable locations are few and far between and like other critical metals, China has what could be a called an unhealthy grip on the market. Sky's share price did not move on Monday when the metallurgical breakthrough was revealed. Fair enough, the market is being cautious. But given Garimpeiro's suggestion that the company's market cap is more than covered by the Tallebung project, it seems likely it won't be long before the market begins to reward Sky for unlocking Doradilla.
Yahoo
12-06-2025
- Business
- Yahoo
Grant Funding Investment at South Crofty Tin Project
VANCOUVER, British Columbia, June 12, 2025 (GLOBE NEWSWIRE) -- Cornish Metals Inc. (AIM/TSX-V: CUSN) ('Cornish Metals' or the 'Company'), a mineral exploration and development company focused on advancing its 100% owned and permitted South Crofty tin project in Cornwall, United Kingdom, is pleased to announce that South Crofty's Bartles Foundry project has received grant funding of up to £4,190,500 from the Cornwall and Isles of Scilly Good Growth Programme, which is managed by Cornwall Council and funded by the UK Government through the UK Shared Prosperity Fund ('SPF'). The grant funding is equivalent to a maximum of 62% of the total Bartles Foundry project cost estimated at approximately £6.8 million for the construction of workshops, stores and offices on the Bartles Foundry site. This will support the requirements associated with South Crofty moving to production and includes the cost for the previously announced purchase of 4.5 acres of land from Cornwall Council (see press release dated April 1, 2025). Conditional planning approval for the development was granted in January 2025. This project follows on from the SPF part-funded study in 2024 which concluded that the site was suitable for development. Don Turvey, CEO and Director of Cornish Metals, stated: 'We are delighted to be awarded this grant funding by Cornwall Council, demonstrating ongoing local support for South Crofty and following on from the investment by the UK's National Wealth Fund earlier this year. This funding will enable the construction of the Bartles Foundry project that will support South Crofty as we move into the underground development phase, which will provide local employment opportunities during the construction and operational phase.' Cllr Tim Dwelly, Cornwall Council's Cabinet Member for Economic Regeneration and Investment, said: 'South Crofty is a big priority for us. Not only are they supporting high-quality well-paid jobs in the area, they are also helping the security of the whole UK by strengthening the domestic supply of essential minerals. I am proud to support this next step towards bringing tin mining back to Cornwall.' ABOUT CORNISH METALS Cornish Metals is a dual-listed mineral exploration and development company (AIM and TSX-V: CUSN) that is advancing the South Crofty tin project towards production. South Crofty: is a historical, high-grade, underground tin mine located in Cornwall, United Kingdom and benefits from existing mine infrastructure including multiple shafts that can be used for future operations; is permitted to commence underground mining (valid to 2071), construct a new processing facility and for all necessary site infrastructure; has a 2024 Preliminary Economic Assessment that validates the Project's potential (see news release dated April 30, 2024 and the Technical Report entitled 'South Crofty PEA'); would be the only primary producer of tin in Europe or North America. Tin is a Critical Mineral as defined by the UK, American, and Canadian governments as it is used in almost all electronic devices and electrical infrastructure. Approximately two-thirds of the tin mined today comes from China, Myanmar and Indonesia; benefits from strong local community, regional and national government support with a growing team of skilled people, local to Cornwall, and could generate up to 320 direct jobs. About The UK Shared Prosperity Fund and Cornwall and Isles of Scilly Good Growth Programme UK Shared Prosperity FundThe UK Shared Prosperity Fund proactively supports delivery of the UK-government's five national missions: pushing power out to communities everywhere, with a specific focus to help kickstart economic growth and promoting opportunities in all parts of the UK. For more information, visit Cornwall and Isles of Scilly Good Growth Programme The Good Growth Programme is managing the delivering of the UK Shared Prosperity Fund in Cornwall and Isles of Scilly. Cornwall Council has been chosen by Government as the lead authority for the fund which is being invested in accordance with the Good Growth SPF Investment Plan. For more information, visit ON BEHALF OF THE BOARD OF DIRECTORS 'Don Turvey'Don TurveyCEO and Director Engage with us directly at our investor hub. Sign up at: For additional information please contact: Cornish Metals Fawzi HananoIrene Dorsman investors@ info@ Tel: +1 (604) 200 6664 SP Angel Corporate Finance LLP (Nominated Adviser & Joint Broker) Richard Morrison Charlie Bouverat Grant Barker Tel: +44 203 470 0470 Hannam & Partners(Joint Broker) Matthew HassonAndrew Chubb Jay Ashfield cornish@ Tel: +44 207 907 8500 BlytheRay(Financial PR) Tim Blythe Megan Ray cornishmetals@ Tel: +44 207 138 3204 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release may contain certain 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements'). Forward-looking statements include predictions, projections, outlook, guidance, estimates and forecasts and other statements regarding future plans, the realisation, cost, timing and extent of mineral resource or mineral reserve estimates, estimation of commodity prices, currency exchange rate fluctuations, estimated future exploration expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, requirements for additional capital and the Company's ability to obtain financing when required and on terms acceptable to the Company, future or estimated mine life and other activities or achievements of Cornish Metals. Forward-looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'believe', 'plan', 'estimate', 'forecast', 'expect', 'potential', 'project', 'target', 'schedule', 'budget' and 'intend' and statements that an event or result 'may', 'will', 'should', 'could', 'would' or 'might' occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, are forward-looking statements that involve various risks and uncertainties and there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risks related to general economic and market conditions; risks related to the availability of financing; the timing and content of upcoming work programmes; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; projected dates to commence mining operations; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. The list is not exhaustive of the factors that may affect Cornish's forward-looking statements. Cornish Metals' forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward- looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. Cornish Metals does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law.
Reuters
04-06-2025
- Business
- Reuters
UAE firm IRH buys majority stake in Congo tin miner Alphamin
June 4 (Reuters) - UAE-based International Resources Holding has agreed to buy a controlling stake in major tin producer Alphamin Resources (AFM.V), opens new tab for C$503 million ($367 million), it said on Wednesday, as the firm expands its presence in African mining. IRH, a unit of International Holding Co ( opens new tab, entered into an agreement to buy a 56% stake in Alphamin from Tremont Master Holdings, paying C$0.70 per share or about $367 million, the companies said in a joint statement. Alphamin owns Bisie tin mine in the Democratic Republic of Congo's eastern region, which is also rich in minerals including tantalum, tungsten and coltan. Alphamin's Bisie mine produces about 6% of global tin supplies annually. Alphamin's production profile "aligns with our strategy of securing interests in high-quality mining assets," IRH CEO Ali Alrashdi said in the statement. The UAE firm last year concluded a deal to buy a 51% stake in Zambia's Mopani Copper Mines for $1.1 billion. Since then, IRH has said it is seeking deals for critical minerals in Zambia and Congo. Major oil producers the UAE and also Saudi Arabia are seeking to diversify their sources of income and secure critical metal supplies from Africa and Latin America to allow them to benefit from the transition to green energy. Tin is used in electronics, renewable energy, and semiconductors. Alphamin was earlier this year forced to temporarily halt mining at Bisie as Rwanda-backed rebels M23 made advances in the vicinity of its Bisie mine.
