Metals X, which operates and has a 50% stake in the Renison mine in Australia, announced that it had completed a highly successful year of exploration, giving it a total resource of 260,900 tonnes of contained tin as at 31 March. The bulk of the resource is accounted for by the Renison mine itself (153,500 tonnes at an average grade of 1.58% Sn) and its Rentails expansion project (89,400 tonnes at 0.45% Sn). The balance was accounted for by the currently closed Mt Bishoff and Collingwood mines.
The mining reserves at the Renison mine and tailings project were calculated at 45,700 tonnes and 85,300 tonnes respectively. The reserve figures take into account mining economics based on a tin price of A$24,000/tonne and other modifying factors such as minimum mining widths, ore losses etc.
Metals X Managing Director Warren Hallam commented: “The Renison Bell mine is in its best shape since the mine re-opened in 2005, with both the Southern and Northern areas now open and producing.” He also noted that the resource base is matched by a large amount of in-place capital plant infrastructure. The Tasmanian tin assets are run as a joint venture with Yunnan Tin group and other Chinese investors.
