Metals X Limited (Australian Securities Exchange stock code: MLX) has announced the latest mine life plan for its Renison Bell mine. Renison Bell, Australia’s largest tin mine, is expected to operate at least until 2035. Through exploration and potential reserve evaluation, the (metal) reserve is confirmed to be 8.225 million tons, with a tin content of 1.48%.
The company holds a 50% stake in the Renison project through Bluestone Mines Tasmania JV Pty Ltd, a joint venture with Yunnan Tin Company. The company emphasized that the proven and probable reserves of Renison Bell are now 8.225 million tons, containing
122,000 tons of tin. According to the latest economic analysis of the mine life plan, the marginal grade of tin will rise from 0.65% to 0.75%.
In the past 12 months, the total ore reserve of the mine decreased by 7%, but the tin grade increased by 1.3%, and the tin content decreased by 5.7%. The company expects the mine life to exceed ten years, mainly through mining high-grade areas such as Zone 5 and the Leatherwood ore body, with an expected increase in grade. Therefore, from 2025, the annual output is expected to increase to 955,000 tons (ore volume).
The average full life cycle cost of the mine is estimated to be 26,247 Australian dollars per ton of tin, including 3,832 Australian dollars per ton of capital cost and 22,415 Australian dollars of operating cost.
Brett Smith, executive director of Metals X, commented, “The updated mine life plan extended to 2035, with an average annual production of over 10,000 tons in the first ten years… The current mine life plan does not yet include the additional reserves of the tailings project, which is expected to increase tin production at a lower cost.”
The Renison Tailings Retreatment Project (Rentails) has a tin resource of approximately 23.9 million tons with a tin content of 0.44%, totaling 104,000 tons of contained tin, expected to add 99,000 tons of probable reserves of tin. The project plans to process historical tailings at a rate of 2 million tons per year over 11 years, with an expected annual tin output of approximately 5,400 tons (metal content).
ITA’s View: The latest reserve and mine life plan provide clear production forecasts for production before the mine’s final closure after 2035. We look forward to extending the operation of the Renison mine beyond 2035 through the Rentails project, but are awaiting the completion of ongoing metallurgical testing and environmental approvals.
Bluestone Mines Tasmania JV Pty and Yunnan Tin Company Limited are board members of ITA.
Eloro Resources Ltd is a member of ITA’s Exploration and Development Group.
[Source – 上海有色网] Metals X公司Renison Bell矿锡含量为1.48% https://news.smm.cn/news/102572331
