Van Dieman agrees new re-financing deal with Galena
Van Dieman Mines has agreed a new one year GB£6.75 million financing arrangement with the Galena Special Situations Master Fund Limited to allow it to progress its two tin projects in Tasmania. Galena will in turn receive loan notes which can be converted into a...
Indonesian police fight tin smuggling
Police in Bangka-Belitung province have stepped up efforts to control illegal mining and smuggling of tin ore. Most independent tin smelters ceased operations last month as world tin prices fell sharply, leaving small scale miners with a much reduced market for their...
Minsur completes Taboca acquisition
Minsur SA of Peru has completed the purchase of the Paranapanema group’s Taboca tin division, according to Brazilian press reports today. The 850 million reais (US$374 million) deal was done through Minsur’s Brazilian offshoot Serra da Madeira and adds...
Progress on tin mine projects
While the world financial crisis and lower tin prices have adversely affected a number of new mine projects, the big Pirquitas silver/tin/zinc operation in Argentina is still on schedule to start production early next year. In addition several Australian Stock...
China production up and down
Official production figures released by China’s National Bureau of Statistics today show a large rise in output in October, but year-to-date production still running more than 10% down on 2007 levels. ITRI believes that the figure reported for last month is...
MSC reports healthy results to September
Malaysia Smelting Corporation posted a pre-tax profit of Malaysian Ringgit 55.6 million (US$15.5 million) for the nine months ended September 30, 2008, up 28.8% from the same period in 2007. For the third quarter ended September 30, 2008, pre-tax profit was RM 22.0...
More problems for Tasmanian tin projects
Stonehenge Metals announced that it was putting its small Heemskirk operation in Tasmania on care and maintenance as a result of operating problems and low prices. In a statement on 5 November the company said: “The commissioning of the Heemskirk treatment plant...
NOK defaults on bonds
The financial problems of Russia’s only tin smelter have deepened. Chairman of the Board of Directors of Novosibirsk Tin Integrated Works (NOK ) Vladimir Sherstov said that the plant failed to raise RUR347 million (US$12.9 million) to redeem bonds. A technical...
Indonesian supply cuts confirmed
Preliminary data released by Indonesia’s Ministry of Trade today, shows a sharp fall in metal approved for export in October. Meanwhile state tin company PT Timah confirmed that it expects to produce only 45,000 tonnes this year, implying a 50% plus fall in...