Aus Tin Mining have announced that final regulatory approval for Stage 1 operations at its Taronga tin project has been received, representing “a major milestone for the Company”, Aus Tin Mining Chairman Brian Moller said.
The Mining Operation Plan approval is the end of a four-year process, which began in May 2015. Aus Tin now plan to begin site establishment and initial mining by the end of June 2019. According to a December 2018 announcement, the company intends to mine an initial parcel of 50,000 tonnes of ore. Funding will be generated by the recent private placement and Share Purchase Plan, with the majority of expenditure forecast for the second half of 2019.
The Taronga project has a total mineral resource of some 57,200 tonnes of tin metal, split into the lower grade “Northern Zone” and higher grade “Southern Zone”. According to the Company, Taronga has the world’s fifth largest undeveloped tin reserve. The project is also prospective for copper and silver.
The Company are also in discussion with potential concentrate off-takers.