Alphamin reports record Q2 earnings on elevated tin prices

Tin miner Alphamin Resources has reported record Q2 2026 earnings from its Bisie mine in eastern DRC, driven by elevated tin prices. The company announced EBITDA of US$167 million, up 6.0% from the previous quarter, supported by a 5.4% increase in the average realised tin price and stable sales volumes.
Tin-in-concentrate production remained static quarter-on-quarter at 5,013 tonnes, as a 4.7% increase in ore processed was offset by a 2.9% lower grade of 3.3% Sn and a 1.6% lower recovery rate of 72.8%.
The decline in grade and recovery rates were attributed to above-average metal sulphide content in the current mining area, which resulted in excessive near-gravity material causing reduced efficiency.
All-in sustaining costs (AISC) increased 6.0% quarter-on-quarter to US$19,043 per tonne tin, due to a combination of increased royalties, export duties, marketing commissions, and net smelter returns.
In addition, Alphamin said higher fuel prices put upward pressure on diesel and transport costs at the mine. The company reports that its fuel stocks have been and remain at full capacity.
Providing an update on its near-mine exploration work, the company said drilling produced mixed results, and stated that the company will undertake further airborne electromagnetic surveys alongside geochemical surveys, and geophysical surveys. Alphamin plans to continue drilling to test the gap between its Mpama North and Mpama South deposits.The company plans to publish an updated mineral resource and reserve estimate in Q4 2026.
Regarding the outbreak of Ebola in northeastern DR Congo, the company said that whist several cases have been reported in North Kivu, there have been none in the Walikale health zone where the mine operates. The company has implemented enhanced hygiene and screening protocols as a precaution and expects no disruptions to its operations.