- Aus Tin Mining has the goal of becoming a major Australian tin producer. Tin is a high-value metal utilised in electronics (solder) with identified potential growth through energy generation and storage, specifically electric vehicles, advanced robotics and renewal energy. Rio Tinto has reported tin as the metal most impacted by new technology.
- Aus Tin Mining owns 100 percent of the Taronga Tin Project (Taronga) located in northern NSW. Taronga is currently ranked the world’s fifth largest undeveloped tin reserve, based on a 2013 JORC compliant resource that remains open at depth. The 2014 Pre-feasibility Study demonstrated technical and economic viability for a large scale development, producing an average 2,800t of contained tin per annum over nine years within second-quartile of global cash costs.
- Aus Tin Mining is planning to undertake a trial mine at Taronga over two years to demonstrate the Proof of Concept for the larger scale project, plus assess areas of previously identified upside, including resource grade, tin recovery and recovery of by-product credits. Final approvals for the trial mine or Stage 1 Project have now been obtained and the Company intends moving forward with site establishment and initial mining before the end of June 2019.
- Aus Tin Mining is also ramping up tin concentrate production at its 100 percent owned Granville Tin Mine located on the west coast of Tasmania following completion of key infrastructure in Q1 2019. The Granville Tin Mine is a high-grade open-cut mine forecast to generate strong margins.
- The Australian Dollar tin price has been trending upwards since 2004 and recently exceeded A$30,000/t, prices not seen since 2011. LME global tin inventories are at historically low levels and the lack of new tin mines being developed is set to exacerbate a long-term global deficit.
This mine will require rail access to the Port.
The Taronga Tin Project is the Company’s flagship project with a Mineral Resource (JORC 2012) containing over 57,000t of contained tin, making it one of the largest undeveloped hard-rock tin projects globally.
The Taronga Tin Project is located approximately 7km NW of Emmaville (northern New South Wales) within the Company’s wholly owned exploration license EL8407. Emmaville is a historic tin field with over 88,000t of contained tin having been produced since the 1870s. Previous owners BHP and Newmont undertook extensive exploration at the project during the 1930-50’s and 1970-80s respectively.
The Taronga Tin Project comprises two major zones of quartz-cassiterite, sheeted vein-style mineralisation. The Northern Zone accounts for approximately 70 percent of the total Mineral Resource (27Mt @ 0.15%Sn for 40,100t contained tin) and is open at depth. The Southern Zone (9.3Mt @ 0.19%Sn for 17,100t contained tin) comprises a very coarse cassiterite demonstrating superior metallurgical properties plus contains higher tin, copper and silver grades.
In 2014 the Company completed a Pre-Feasibility Study on the Taronga Tin Project demonstrating the technical and economic viability of the project. The study was based on 2.5Mtpa open pit operation over a nine year Life of Mine. Ore would be treated at site using dense medium, gravity and flotation to produce a final concentrate for sale overseas. The Pre-Feasibility Study generated a base case NPV(8%) of AU$63.15M. The Pre-Feasibility Study also identified a number of areas of potential project upside, including feed grade, tin recovery and by-product credits that have the capacity to increase the value of the project substantially. (Link to ASX announcement 7/4/14)
In 2015 the Company announced it would commence a Stage 1 Development comprising a 340,000t trial mine within the Northern Zone Ore Reserves and pilot processing plant. The Company is currently progressing necessary approvals to undertake the trial mine. Recent metallurgical test work supporting the Stage 1 Development indicates positive concentrate grade, tin recovery and block model reconciliation Link to ASX announcement