Tasmanian Renison tin mine thrives despite high tin prices | the lawyer

news, local news, Tasmania, mining, Renison, X Metals, tin, prices, Rentals

The Renison tin mine has made money as it reaped the rewards of high prices and strong production despite the coronavirus affecting workers. Expected revenues of $114.73 million for the December quarter from the West Coast mine significantly exceeded cash production costs of $37.12 million and all-in costs – including project and production costs – $65.45 million. The operation received an average of $49,351 per ton of tin sold during the quarter, half-owner Metals X Limited said in its quarterly report released in late January. This was well above the cash production cost per ton of $16,332 and the overall cost of $28,783 per ton. The report said Renison’s workforce had 30 cases of coronavirus since Tasmania’s borders reopened in mid-December, with 18 having fully recovered and 12 continuing to self-isolate. “There was no significant disruption to critical operations or supplies,” the report said. He said he continues to offer incentives for employees to be fully vaccinated. Metals X said joint venture Bluestone Mines Tasmania, which owns the mine, had launched a site-wide environmental risk assessment which would lead to the development of an environmental improvement plan. He said Renison’s strategy is focused on “continuing to convert significant exploration successes in the mine into a substantial, long-lived mining operation, to deliver higher cash margins through a increasing mining rate, grade and recovery, while continuing to seek improvements in productivity and reduce costs.” In addition to continued progress in the development of the Zone 5 tin play, underground and surface resource drilling was completed during the quarter, with work continuing into the current quarter. IN OTHER NEWS Work on the Rentails project – which could potentially recover decades’ worth of tailings and create hundreds of jobs – also continued during the quarter. Metals X said its closing cash increased from $21.6 million at the end of the September quarter to $46.2 million at the end of December. Why not subscribe to The Advocate for more daily local news? register here

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