JSC Tin One Mining, formerly known as JSC Syrymbet, was founded in 1998 to carry out the development of the Syrymbet deposit, including mine and processing plant construction, in Kazakhstan. The Syrymbet licence area also incorporates the Sarybulak tantalum-niobium prospect. The company is a privately owned subsidiary of the Lancaster Group, a diversified holding company specialising in long term development opportunities. Samruk-Kazyna Invest, a subsidiary of the Kazakhstan government’s asset management division, has a minority share.
The Syrymbet Tin Project
The Syrymbet deposit is located in the Syrymbet ore field, north-west of the Kokchetav middle massif, within the Volodarskiy ore province. The venture is wholly owned by JSC Tin One Mining, which is permitted to carry out development and production within the licence area until 2030. Commercial mineralisation at the deposit was first discovered by a drill-hole program in 1985, with further exploration in 1990 leading to the discovery of tin-bearing weathered crust with commercial potential. The ore field is associated with the intrusion of two late Devonian granite-porphyry stockworks (Syrymbet and Sarybulak).
The company claims that the deposit is currently the world’s largest undeveloped tin deposit, based on 2012 JORC reporting standards. JORC-compliant mineral resource estimation (MRE) reports from 2015 and 2018 indicate in-situ resources comprising 123 Mt of ore, containing 492 kt of tin.
A Definitive Feasibility Study (DFS) is currently being produced and is expected to be completed at the end of 2019. The objectives of the project are to prepare comprehensive technical and economic reports and project data that meet the requirements of international financial institutions, provide final validation of the technical and economic feasibility and viability of the project, and provide data sufficient for detailed design, engineering drawings and construction of the project facilities. In 2018, State authorities commenced the construction of a railway siding and a potable water pipeline, which are required for the development of the project.
|Mine Type||Open Pit|
|Output (t/y Sn)||7,500|
|Mine Life (years)||14|
|Capital Cost (US$ M)||285|
JORC-Compliant Measured & Indicated Resource
|Ore (Mt)||54.8||Metal (t)|
JORC-Compliant Inferred Resource
|Ore (Mt)||68.5||Metal (t)|
JORC-Compliant Probable Reserve
|Ore (Mt)||26||Metal (t)|