Kazakhstan Tin One Mining JSC (Tin One Mining JSC) has […]
Kazakhstan Tin One Mining JSC (Tin One Mining JSC) has released the feasibility study report of its Kyrgyzstan's Syrymbet project. Compared with the pre-feasibility study report (PFS) completed in 2016, the feasibility study report (FS) released this time shows a lot of obvious optimizations.
According to the report, the Shilimbet tin mine is expected to be operational for 14 years, with a total production of 90,400 tons of tin concentrate, 29,000 tons of copper concentrate, and 2,051,000 tons of fluorite; on average, 6,500 tons of tin concentrate can be produced annually. The technological process of the project has been significantly simplified, greatly improving the economics of the project. The project mainly includes an open pit mine and a concentrator that processes 2.5 million tons of ore annually. The project adopts different crushing treatment processes for oxidized ore and sulfide ore. The beneficiation process mainly involves copper flotation, sulfide flotation, tin flotation and fluorite flotation. In addition to tin production, the project will also produce copper and fluorite, which will help reduce the cost of tin mining. The net present value of the project is 283.2 million US dollars, the internal rate of return is 19.2%, and the net free cash flow is 658 million US dollars. It is expected that the investment can be recovered within 4.5 years after being put into production.
It is understood that the Shilimbet tin mine is located in North Kazakhstan and is the only undeveloped tin mine in Kazakhstan and the largest in the world. The mine is currently owned by Kazakhstan’s Lancaster Group, a wholly-owned subsidiary of Kazakhstan’s Berkut Mining LLP (75%) and Kazakhstan’s sovereign wealth fund, Samruk-Kaze Na (Samruk-Kazyna, 25%) is jointly held. The total amount of tin metal resources in the deposit is 483,000 tons, the reserves are 145,000 tons, and the average grade is 0.4%. Beginning last year, the stripping of the deposit has already started and is expected to produce concentrate this year.
Currently, the project's environmental and social impact assessment work is in progress and is expected to be completed in the third quarter of 2020. According to the investment promotion and privatization catalogs released by Kazakhstan in October 2019, the Xilimbet tin mine project is seeking co-development by partners.