Russian gold and tin conglomerate Seligdar reports that production of tin concentrates rose by 72% year-on-year for the first nine months of 2019, reaching 1,611t Sn, while revenues rose 88% to RUB 1.65Bn (US$25.9M) – indicating an average sales price of nearly US$16,050/t.
Current mine production comes from the Khabarovsk region, where Rusolovo owns tin assets through its holdings in LLC Pravourmiyskoe and OJSC Tin Mining Company; the companies under Rusolovo joined Seligdar in 2013.
The company intends to ramp up production to reach 6ktpy tin concentrates in 2024. In Q1 2018, project and construction work began at a new production complex, located on the Pravourmiyskoye deposit, for extraction and processing of 600ktpy tin ore. Additionally, the second phase of reconstruction at the Solnechnoye processing plant began, increasing production capacity to 1.2ktpy.
Increased tin output from Russia will be a welcome source of feedstock for the refined sector, with mine supply considered to be a potential bottleneck for the market over the next few years.
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