New Taronga DFS confirms low-cost open pit
British tin explorer First Tin confirmed that its Taronga project in New South Wales to develop low-cost open pit.
The mine would see average production of 3,100 tonnes tin-in-concentrate per year over the 10 year mine life, with potential to extend by 4-11 years from recently updated resources.
The company has estimated cash operating costs of US$15,053 per tonne tin sold and an AISC of US$18,651 per tonne tin sold. This places the project just in the lower half of ITA’s forecast tin mine production cost curve.
Project capital costs are estimated at A$297 million (approximately US$211 million) including 17% contingency.
At a tin price of US$40,000 per tonne, the project has a post-tax NPV8 of A$246 million, with a post-tax IRR of 21% and payback in 3 years. First Tin identified a break-even price of US$29,090 per tonne tin—not seen since January 2025.
The company highlighted that Taronga’s coarse mineralogy and fracturing along the quartz veins make the ore amenable to a simple, gravity-dominated processing flowsheet.
Taronga’s processing plant, capable of treating 5 million tonnes of ore annually, is projected to achieve a recovery rate of 56.8%, with scope to add a fines flotation circuit in the future to enhance recoveries.
The company last week published an updated ore reserve estimate for the project of 45 Mt at 0.12% Sn for 55,000 tonnes contained tin across the proven and probable categories, entirely constrained within the pit shell.
The updated reserve sees the stripping ratio reduced to less than 1:1 as lower-grade material was reclassified
In addition, the project holds a tin resource of 157.3 Mt at 0.09% Sn for 147,800 tonnes contained tin, including measured & indicated resources of 102,300 tonnes contained tin.
The study also highlighted upside potential from future recovery of copper and silver, further addition to mine life from identified extensions to mineralisation, and the addition of a fine tin flotation circuit.
