JOHANNESBURG (miningweekly.com) – ASX-listed Aus Tin has started concentrate production at the Granville project, in Tasmania, elevating the company to tin producer status.
Aus Tin, which bought the Granville project less than four months ago, is now the second Australian company listed on the ASX to produce tin, the other being Metals X.
The milestone was achieved against the backdrop of an improving tin price and declining global tin stocks.
“The tin price is up 25% year-to-date and we believe the best leverage an investor can have to the increasing tin price is through operating assets. Having now commenced production at Granville, it is our intention to ramp-up production and in due course exploit the high tin grades in the openpit generated from our 2015 drilling programme,” said CEO Peter Williams on Wednesday.
Aus Tin plans to use the cash flow generated by the Granvill project to advance its other projects, including the Taronga tin project, in New South Wales, and Mt Cobalt, in Queensland.