It is reported that tin and nickel miner Metals X has reopened the Renison tin mine in Tasmania in response to the recovery in tin prices.
Mr Peter Cook MD of Metal X said that commercial production is currently underway. He added that “We firmly believe that, in the ensuing year, we will see tin prices consistently trade above USD 25,000 a tonne and with the continuing deficiency in supply demand balance, we could see tin approach levels well into the USD 30,000 by 2010.”
It may be noted that the 8,500 tonne Renison mine went on care and maintenance in October 2005 after tin fell below USD 6,000 a tonne on the London Metal Exchange. Prices have since boomed to levels around USD 22,300 a tonne.
Metal X plans to expand Renison in 2010 with a tailings re treatment project.
