MINEX Forum

Tag: tin mining

  • Perran Moon MP Advocates for Domestic Tin Production Amid Global Shortages

    Perran Moon MP Advocates for Domestic Tin Production Amid Global Shortages

    In a recent debate held in Westminster Hall, Perran Moon, the Labour MP for Camborne, Redruth & Hayle, highlighted the critical importance of domestic tin production and processing in the UK. The debate, which garnered support from various political figures including Minister Blair McDougall and the Shadow Opposition Minister, focused on the looming global tin shortage and the rising prices that have resulted from it. Moon expressed his delight at the consensus reached among the participants regarding the significance of the tin sector, which he believes is vital not only for economic reasons but also for its cultural and historical relevance to Cornwall.

    Moon passionately articulated that Cornish tin mining is more than just an industrial activity; it is deeply intertwined with the identity and heritage of the Cornish people. He stated, “It is part of our heritage, part of who we are, not just what we did. And it is now a symbol of hope in an uncertain world.” His remarks underscore the dual role that tin mining plays in both providing employment opportunities and preserving the cultural legacy of the region.

    During the debate, Moon invited Minister McDougall to visit South Crofty, a site of ongoing regeneration efforts in Cornish tin mining, to witness firsthand the progress being made. He reiterated his commitment to advocating for the tin sector in Westminster, despite the light-hearted nickname he has earned as ‘The Tin Man.’

    The debate also featured contributions from fellow Cornish Labour MPs Noah Law and Anna Gelderd, who provided additional insights into the importance of tin mining for local communities and the economy. The discussions reflect a growing recognition of the need for strategic investment in domestic mineral production to ensure the UK can meet its future resource needs and reduce reliance on imports.

    As the global demand for tin continues to rise, driven by its essential role in various industries including electronics and renewable energy, the call for revitalising the Cornish tin mining sector is more pressing than ever. Moon’s advocacy highlights the intersection of economic development, environmental sustainability, and cultural heritage, positioning Cornwall as a key player in the future of the UK’s critical minerals landscape.

  • Tin One Mining to Construct Major Tin Processing Plant in Kazakhstan

    Tin One Mining to Construct Major Tin Processing Plant in Kazakhstan

    At the Qyzyljar Investment Forum 2026, a significant agreement was reached that paves the way for the industrial development of the largest untapped tin deposit in Central Asia. Tin One Mining, a subsidiary of Solidcore Resources, has signed a memorandum with the relevant administration of the North Kazakhstan region, solidifying plans to build a mining and processing plant at the Sarymbet site.

    According to the memorandum, the investor is committed to investing at least 150 billion tenge (approximately 315.5 million dollars) into the development of the resource, the construction of the facility, and the creation of supporting infrastructure, pending approval from the parent company’s board of directors. Regional authorities will assist the investor in project execution, taking on administrative support and facilitating agreements with government bodies.

    Tin One Mining aims to establish the extraction and processing of raw materials using modern technologies. The company promises to implement advanced global solutions in environmental protection and industrial safety within its operations. Once fully operational, the plant is expected to employ around 800 people, with a preference for hiring qualified specialists from the local community.

    The project’s significance is underscored by the scale of its resource base. The Sarymbet deposit, discovered in 1985, holds over 70% of Kazakhstan’s tin reserves. According to JORC standards, the deposit contains 492.4 thousand tonnes of tin with an average grade of 0.40%, along with by-product copper amounting to 91.4 thousand tonnes at a grade of 0.07%. In total, this equates to approximately 5.9 million ounces of gold equivalent.

  • Tin One Mining Signs Memorandum for Tin Processing Plant in Kazakhstan

    Tin One Mining Signs Memorandum for Tin Processing Plant in Kazakhstan

    Tin One Mining has entered into a memorandum with the administration of the North Kazakhstan region to implement an investment project for the construction of a mining and processing plant at the Sarymbet tin deposit. The company plans to invest at least 150 billion tenge (approximately $315.5 million) into the development of the deposit, the construction of the processing plant, and associated infrastructure. This investment is subject to approval by the board of directors of Solidcore Resources, which controls the project.

    The Sarymbet deposit is noted as the largest undeveloped tin deposit in Central Asia, with resources estimated at 492.4 thousand tonnes of tin at a grade of 0.40% and 91.4 thousand tonnes of copper at a grade of 0.07%, according to JORC standards. The deposit accounts for over 70% of the total tin reserves in Kazakhstan. Discovered in 1985, the site has significant potential for contributing to the region’s industrial growth.

    Approximately 800 jobs are expected to be created as part of this project, with a focus on hiring local residents who possess the necessary education, qualifications, and professional competencies. Tin One Mining views this initiative as a long-term investment aimed at enhancing the industrial potential of the North Kazakhstan region and the country as a whole.

    The administration has committed to supporting the project’s implementation by facilitating interactions with government bodies and overseeing the investment project throughout its various stages. In November 2024, Solidcore Resources acquired a controlling stake of 55% in the project for $82.5 million from Berkut Mining, which remains involved in the project while Solidcore takes operational control.

    As of August 9, 2026, Tin One Mining is owned by Tin One Holding, which is in turn owned by Solidcore Eurasia LTD and Berkut Mining, both of which are part of the larger Solidcore Resources PLC structure. This investment marks a significant step in the development of Kazakhstan’s mining sector, particularly in the tin industry, which is poised for growth given the increasing global demand for tin and its applications in various industries.

  • Tin One Mining and North Kazakhstan Akimat Sign Investment Memorandum for Syrymbet Deposit

    Tin One Mining and North Kazakhstan Akimat Sign Investment Memorandum for Syrymbet Deposit

    Tin One Mining, a subsidiary of Solidcore Resources, has signed a significant Memorandum with the Department of Entrepreneurship and Industrial-Innovative Development of the North Kazakhstan region Akimat, marking a pivotal step in the development of the Syrymbet tin deposit. This agreement was formalised during the Qyzyljar Investment Forum 2026, where both parties committed to the construction of a mining and processing plant (MPP) at the site, which is recognised as the largest undeveloped tin deposit in Central Asia.

    The memorandum solidifies prior discussions regarding the project, which is expected to create substantial employment opportunities and bolster the industrial capacity of the region. The initiative aims to modernise local engineering and transport infrastructure, thereby enhancing the overall economic landscape of North Kazakhstan. The Department of Entrepreneurship and Industrial-Innovative Development will play a crucial role in facilitating the project, ensuring collaboration with government entities, and providing support throughout the investment process.

    Tin One Mining has announced plans to invest a minimum of KZT 150 billion (over US$ 315.5 million) into the development of the Syrymbet deposit, which includes the construction of the MPP and associated infrastructure. The company is dedicated to employing modern extraction and processing technologies that meet global standards for environmental protection and operational safety. Approximately 800 jobs are expected to be created, with a focus on hiring local residents who possess the required qualifications and skills.

    The Syrymbet deposit, discovered in 1985, holds significant reserves, accounting for more than 70% of Kazakhstan’s total tin reserves. The JORC compliant Mineral Resource estimate indicates a total of 492.4 thousand tonnes of tin at a grade of 0.40%, alongside 91.4 thousand tonnes of copper at a grade of 0.07%, equating to approximately 5.9 million ounces of gold equivalent. This project not only represents a major investment in the mining sector but also underscores the potential of Kazakhstan’s mineral wealth in contributing to the region’s economic development.

  • Tin One Mining to Launch $227M Tin Production Project at Syrymbet Deposit in Kazakhstan

    Tin One Mining to Launch $227M Tin Production Project at Syrymbet Deposit in Kazakhstan

    A new mining and processing plant will be built at the Syrymbet deposit in Kazakhstan’s Ayyrtau district, where Tin One Mining — part of Solidcore Resources — plans to produce up to 11,000 tonnes of tin annually. The investment project, valued at $227 million, was announced by regional deputy governor Kanat Duzelbayev during the North Kazakhstan–China Investment Business Forum.

    Tin One Mining intends to commission the plant in 2028, creating around 600 jobs. The Syrymbet deposit, discovered by Soviet geologists in 1985, contains a complex mix of metals including tin, tungsten, tantalum, niobium, molybdenum, beryllium, bismuth, copper, and fluorite. Early studies identified tin-rich weathering crusts that formed a new industrial category of tin-bearing ore for the region.

    The site’s resources were estimated under JORC standards in 2018 at 206,000 tonnes of tin and over 70,000 tonnes of copper. Following exploration in 2025, tin reserves were upgraded to 286,000 tonnes, while copper reserves were revised downward to 55,000 tonnes. Solidcore Resources acquired a 55% stake in the project operator for $82.5 million at the end of 2024.

  • Cornish Metals’ South Crofty Tin Project Shows £180M NPV, 20% IRR in Updated PEA

    Cornish Metals’ South Crofty Tin Project Shows £180M NPV, 20% IRR in Updated PEA

    Cornish Metals (TSX-V, AIM: CUSN) announced on Tuesday that its South Crofty tin project in Cornwall, UK, carries an after-tax net present value (NPV6) of £180 million ($235 million) and an internal rate of return of 20%, according to its updated Preliminary Economic Assessment (PEA).

    The study outlines a 14-year mine life with total production of 49,168 tonnes of tin. Average annual output is expected at about 4,700 tonnes between years two and six—equivalent to 1.6% of global mined tin. The project anticipates a 3.3-year payback, cumulative after-tax cash flow of £558 million ($750 million), and annual EBITDA of £70 million with margins above 60%.

    Pre-production capital costs are estimated at £198 million, with sustaining capital of £43 million. All-in sustaining costs are projected at around $13,400 per tonne in years two through six, placing South Crofty in the global lowest cost quartile.

    Construction is already underway with shaft and pump station refurbishments, site excavation, and utility installations in progress. Long-lead equipment, including production and service winders, has been ordered, and first production is targeted for mid-2028.

    The company accelerated development following a £57 million fundraise earlier this year, which included investment from the UK’s National Wealth Fund and Vision Blue Resources. Chief executive Don Turvey described the PEA as a “key step” in advancing South Crofty towards first production, calling it a “long-life, low-cost producer.”

    South Crofty will operate on 100% renewable electricity and generate no surface tailings. The project is expected to directly employ more than 300 people and create 1,000 indirect jobs, alongside a dedicated training centre to upskill local workers. Exploration upside remains, with near-mine targets estimated at 6–13 Mt grading 0.5%–1.8% tin.

    South Crofty previously operated for over 400 years until its closure in 1998, marking the end of tin mining in Europe. Cornish Metals acquired the asset after failed revival attempts in the early 2000s and now holds mining rights valid until 2071, along with environmental permits to dewater the mine.

  • Tin Mining Revival in Cornwall: UK Government Injects £29M into South Crofty Reopening

    Tin Mining Revival in Cornwall: UK Government Injects £29M into South Crofty Reopening

    The UK government has invested £28.6 million to revive Cornwall’s historic South Crofty tin mine, marking a major step in re-establishing domestic production of a critical mineral vital to the clean energy transition. Located near the village of Pool, South Crofty was the last operational tin mine in the UK before its closure in 1998 due to plummeting metal prices and a lack of investment.

    The reopening of the mine, led by Cornish Metals, is expected to create over 1,300 jobs — including more than 300 direct roles and an additional 1,000 across supply chains and regional services such as fabrication and electrical contracting.

    “Tin is essential to electronics, EVs, and renewable energy,” said Don Turvey, CEO of Cornish Metals. “Bringing South Crofty back online helps reduce import dependence and boosts local industry.” The company plans to use local suppliers, helping to stimulate Cornwall’s economy and foster long-term industrial regeneration.

    The announcement was made during a visit to Cornwall by Chancellor Rachel Reeves, who emphasized the mine’s role in unlocking regional growth. “Cornwall has been left behind for too long. This project is about creating skilled, year-round jobs and putting money into local families’ pockets,” she stated.

    The investment, part of the UK’s national wealth fund and industrial strategy, aims to promote growth in strategic industries like clean energy and critical minerals. Ian Brown of the national wealth fund praised the mine’s progress and potential to attract further private investment.

    Tin prices have nearly doubled since 2016, reflecting rising global demand from sectors including electric vehicles and solar panel manufacturing. Originally acquired in 2016 by Vancouver-based Strongbow Exploration—now Cornish Metals—the South Crofty project has gained momentum with its AIM listing and rising investor confidence. Cornish Metals’ share price has climbed 28% over the past year, pushing its market valuation to £92 million.

    The reopening of South Crofty could signify a new era for British tin mining, helping secure mineral independence while delivering a boost to regional jobs and sustainability goals.

  • Solidcore Resources Acquires 55% Stake in Kazakhstan’s Only Tin Deposit

    Solidcore Resources Acquires 55% Stake in Kazakhstan’s Only Tin Deposit

    Solidcore Resources plc, a gold mining company, has announced the acquisition of a 55% stake in the Syrmbet tin deposit from Lancaster Group, as reported by Ulysmedia.kz. This undeveloped polymetallic deposit is the only one of its kind in Kazakhstan, primarily containing tin. Solidcore’s investment in the deposit will be $82.5 million, marking a notable development in a country with no prior tin production history. Lancaster Group had initially planned to invest $410 million in a concentrating plant, with financing from the Development Bank of Kazakhstan, but construction never commenced.

    Located in northern Kazakhstan, the Syrmbet deposit was discovered in 1985. In 1998, it was incorporated as AO Syrmbet and later rebranded as Tin One Mining in 2017. Currently, Berkut Mining, a subsidiary of Lancaster Group, is the sole shareholder of Tin One Mining.

    Previously known as Polymetal, Solidcore Resources relocated from Jersey to Kazakhstan and registered on the AIX exchange. Following U.S. sanctions on its Russian assets, Solidcore sold these to Russian company Mangazeya Plus for $3.69 billion. In 2024, a consortium of Omani investors, led by Maaden International Investment, acquired a 23.9% stake in Solidcore, formerly owned by Powerboom Investments. Solidcore’s CEO Vitaliy Nesis, a Russian entrepreneur, leads its development of Varvarinskoye and Bakyrchik mines in Kazakhstan.

    Lancaster Group, founded by four business partners in 2003, includes Nurlan Kapparov, Erbolat Dosaev, Berik Kaniev, and Yuri Pak. According to Forbes Kazakhstan, Kaniev and Pak share the 73rd position among Kazakhstan’s wealthiest individuals, each valued at $64 million. Lancaster Group’s portfolio includes Tin One Mining, oilfield services companies, and a stake in the Quantum Stem school network.