Quarterly results published by Metals X on Friday confirmed that tin production at the Renison mine had dipped at the end of last year, but annual production of tin-in-concentrates rose by 5.2% to 6,152 tonnes. However news coverage focused on the results of its gold division, which had been boosted by the acquisition of the Australian assets of Alacer Gold in October. Gold production in the quarter was just over 51,000 oz., generating cashflow (EBITDA) of $33 million compared to the $5.4 million coming from its 50% share in Renison.
In a statement Metals X said that the Renison mine had suffered a pillar collapse “resulting in a buried loader, significant ore loss, additional dilution and a depleted mining fleet. Minor additional impacts on productivity resulted from power failure and consequential flooding of active work areas. The Renison tin concentrator throughput was constrained by mine output during the quarter and all surface stocks including the low grade was consumed.”
Over the course of the year at Renison 585,227 tonnes of ore was mined and 597,171 tonnes processed, with an average grade of 1.51% tin. Annual average cash operating costs were reported at $14,480/tonne, while total cost of sales, including selling costs and capital charges, averaged $20,080/tonne.
