Metals X provides a Renison Ore Reserve and mine life update
Metals X has announced an updated Life of Mine Plan for Renison Bell, Australia’s largest tin mine, with the historic mine expected to operate until at least 2035. Proven and Probable Reserves now sit at 8.225 Mt at 1.48% Sn.
The company, who own 50% of the Renison project through the Bluestone Mines Tasmania JV Pty with Yunnan Tin Corporation, highlighted the total Renison Bell Proved and Probable Reserve is now 8.225 Mt at 1.48% Sn for 121 kt contained tin. There has been an increase in the cut-off grade from 0.65% Sn to 0.75% following economic analysis undertaken in the Life of Mine Plan update.
Over the last 12 months, there has been a 7% decrease in total Reserve ore and a 1.3% increase in Reserve tin grade, yielding a 5.7% decrease in Reserve contained tin at Renison underground. The company projects a mine life of over ten years, with grade anticipated to increase as the bulk of ore mined will be from the high-grade Area 5 and Leatherwood ore bodies. Production is therefore anticipated to ramp up to 955 kt Sn per annum from 2025.
Average site LOM All-in Costs have been estimated at AUD$26,247 per tonne Sn, inclusive of Capital Costs of AUD$3,832 per tonne Sn and Operating Costs of AUD$22,415 per tonne Sn.
Metals X Executive Director Brett Smith commented, “The updated Life of Mine Plan now extends out to 2035, with the first 10 years averaging more than 10,000 tonnes of tin per annum… The Life of Mine Plan does not yet include the additional contribution from the Rentails project, which provides an opportunity for the production of additional tin at a lower production cost.”
The Renison Tailings Retreatment project (Rentails) accounts for an additional Probable Ore Reserve of 99 kt contained Sn from Measured Resources of 23.9 Mt at 0.44% Sn giving 104 kt contained tin. The proposed project will treat the historical tailings over an eleven-year period at a rate of 2 Mt per annum, producing approximately 5,400 tonnes of tin per annum.
The updated ore reserves and Life of Mine Plan provide a clear projection for production towards eventual mine closure after 2035. We look forward to the extension of operations at Renison beyond 2035 with the Rentails project, pending environmental approvals and the completion of ongoing metallurgical test work.
