Alphamin Resources, a JSE- and TSX-V-listed company, achieved a remarkable feat in 2023 by producing 12 568 t of tin, surpassing its market guidance of 12 000 t and improving by 1% from the previous year. The company operates the Mpama North underground mine and processing facility in the Democratic Republic of the Congo (DRC), which is one of the world’s highest-grade tin deposits.
The record production was achieved despite the adverse weather conditions that affected truck transit times and export revenue receipts in the last quarter of 2023. The company reported that the rains subsided significantly from mid-December, and it expects to resolve the delay in tin sales during the first quarter of 2024.
Tin is a vital metal for the electronics industry, as it is used to solder components on circuit boards. The demand for tin has been rising steadily in recent years, driven by the growth of consumer electronics, electric vehicles, renewable energy, and 5G technology. According to the International Tin Association, the global tin market was in deficit by 7,000 t in 2023, as supply disruptions and COVID-19 restrictions impacted the output of major producers such as China, Indonesia, and Myanmar.
Alphamin’s CEO Maritz Smith said that the company was well-positioned to benefit from the favorable Tin market conditions, as it aims to increase its production by 40% in 2024. The company plans to start operations at the Mpama South processing plant on April 1, which will add an incremental tin production of between 5,000 t and 6,000 t per year. The company also announced that it had completed a definitive feasibility study for the Mpama South project, which confirmed its technical and economic viability.
Smith added that the company was committed to creating value for its stakeholders, including its employees, communities, and shareholders. He said that the company had invested in various social and environmental initiatives, such as providing clean water, health care, education, and agricultural support to the local population. He also said that the company had achieved a net-zero carbon footprint in 2023, by offsetting its emissions through the purchase of carbon credits from a reforestation project in the DRC.
Alphamin’s success story is a rare example of a mining company that has overcome the challenges of operating in a remote and conflict-prone region while delivering positive impacts for its host country and the global tin industry. The company hopes to continue its stellar performance in 2024 and beyond, as it strives to become a leading producer of high-quality tin.
Source: Mining Weekly
