Monthly Metal Review
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In London, Tin settlement price decreased to US$ 14,985.00 per tonne closing this month flat.
Indonesia’s mines minister called for stronger mining-sector regulation amidst assertions that Indo-nesia lost more than US$4.2-billion to illegal tin min-ing 2008-2013. State-owned miner PT Timah has said it loses up to 80 tonnes of tin daily to illegal miners. Timah’s president director Sukrisno cited ITRI fig-ures, saying that of the 593,404 tonnes of tin Indone-sia produced 2008-2013, some 352,000 went unre-ported.
South Africa’s Industrial Development Corpo-ration (IDC) is buying a 14.25-percent stake in Al-phamin Resources’ subsidiary in the Democratic Re-public of Congo. Alphamin DR is developing the Bisie tin mine in North Kivu province. Armed groups have intermittently controlled the area’s biggest mine for years. The US$10-million deal is to close in mid-December. Canada’s Alphamin announced a 30-percent boost in indicated mineral resources to 3.94Mt of ore at 3.94 percent Sn, or 155,236 tonnes of contained tin, at the Mpama North target of the Bisie project.
Work was to resume at the Mawchi tin and tungsten mines in Myanmar’s Bawlake district of Kayah state following fatal rainy-season landslides. The mines are controlled by Myanmar’s military.
Bolivia announced a US$106 million deal be-tween Comibol, the Bolivian state mining company, and ThyssenKrupp of Germany. Comibol will supply 13,200 tonnes of tin to ThysenKrupp during two years from 2016.
Peruvian miner Minsur reported lower third-quarter production at its Brazlian subsidiary. That was attributed to restricted energy caused by leaks in the mine’s hydroelectric-plant dam. But processing tin from slag at Minsur’s Brazilian Pirapora smelter coun-tered Pitinga’s lower mine production and boosted refined-tin output by 7 percent on-quarter. Brazilian results bring Minsur's third-quarter refined-tin pro-duction, including Peruvian tin operation, to 5,628 tonnes.
LME Tin stocks increased from 4,895 to 5,205 tonnes in November.