Bloomberg reports today that MLX is increasing tin production at Renison from 7000 tonnes in 2014 to 8000 tonnes this year. This is from investments made in the last 3 to 5 years. Only Burma and Australia are increasing production while Indonesia has cut back sharply. The price outlook in medium to long term is good with consumption rising ahead of supply and looking to get tighter. Peter Cook quoted as indicating they are sounding out partners at Renison to fund the tailings operation which would take 12 months to start and which will have per ton costs of about A$14000, which would be very profitable at about $A 24-25k per ton.
MLX Price at posting:
$1.04 Sentiment: None Disclosure: Held
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