Renison production remains solid despite operational challenges
Renison mine co-owner Metals X has announced Q1 production in line with expectations despite a bushfire-related suspension and power supply interruption in February.
Australia’s only major tin mine produced 2,432 tonnes of tin-in-concentrate in the quarter ending 31 March, down 26.9% from the previous quarter, but up 7.0% year-on-year. Ore mined declined 12.6% quarter-on-quarter to 190,946 tonnes, as did grade, contributing to lower processing rates and the overall production decline from Q4 2024.
Mining in Q1 focused on developing Area 5, Central Federal Basset, and Leatherwood stopes, totalling 1,387 metres of development. Due to the timing of paste fill sequencing, changes in the mine stope sequence meant that mining activity was focused away from the high grade Area 5 zone.
The site was briefly evacuated in mid-February due to a nearby bushfire, leading to an unplanned shutdown of the processing plant and disruption to power supply, in addition to a planned essential maintenance shutdown in March. However, above average and above budget recovery rates before the shutdowns meant the quarter’s average recovery saw only a marginal decline to 80.08%.
The company also cited challenges of ongoing absenteeism and instability in leaching operations.
The lower production volumes resulted in 7.6% lower total cash production costs but higher costs per unit produced. Elevated tin prices in Q1 partially offset the higher unit costs, yielding an EBIDTA of A$56.23 million (down from A$80.17 million in Q4 2024).
The operating joint venture, Bluestone, continued with various capital projects including ventilation upgrades, dewatering, and improvements to tailings storage at surface.
The company made progress with the Rentails (Renison Tailings) project’s environmental assessments and an updated mineral resource estimate to include a further tailings dam, bringing the total resource to 27.5 Mt at 0.43% Sn and 0.23% Cu. Bluestone will request formal tenders from contractors for engineering, procurement, and construction of the Rentails concentrator and proposed accommodation in Q2 2025.
Despite operational challenges, production from Renison remains up year-on-year, highlighting Bluestone’s continued drive for growth at the mine following last year’s record production. Progress with the Rentails project is particularly promising, with the tailings retreatment project anticipated to be one of the first new tin supply projects to come online.
