Elementos has announced a partnership with the Thailand Smelting and Refining Company (Thaisarco) for the future supply of tin concentrates produced from the company’s multi-stage Cleveland Tin Project, in Luina, Northwest Tasmania.
A non-binding Memorandum of Understanding between the parties proposes Thaisarco’s purchase of at least 100 tonnes per month of 55% tin concentrates, to commence as soon as production at Cleveland begins. The two companies intend to complete a formal offtake agreement as project development work progresses.
Elementos Executive Director, Mr Christopher Dunks said, “We are extremely pleased to formalise a strategic relationship with Thaisarco given their expertise and international business standing in the global tin industry.” Meanwhile, Mr. Andrew King, Group Business Development Director at AMC, which is the majority shareholder and operator of Thaisarco, stated, “We are excited to be working with Elementos to assist in the development of a low sovereign risk, long mine life project like Cleveland“.
Elementos is currently advancing environmental permitting and a mining licence application for the project, whilst assessing a number of capital cost reduction initiatives for the tailings retreatment stage of the project. A scoping study for the relocation of the tailings storage facility is near completion and is expected to result in a significant cost saving. The company is also planning to implement a new exploration programme to define additional open pit and underground resources.