Alphamin’s second-quarter production, sales in line with full-year guidance
Tin miner Alphamin Resources’ contained tin production of 5 030 t for the quarter ended September 30 was in line with the prior period and the company’s forecast guidance of 20 000 t/y.
Ore processed at the company’s operations in the Democratic Republic of Congo increased by 1% to 213 454 t and the tin grade of the feed ore was down marginally from 3.3% in the previous quarter to 3.2%.
Processing recoveries, at 72.9%, were in line with the prior quarter.
Tin sales volumes of 3 046 t were in line with production, supported by favourable road conditions and transit times during the quarter.
Alphamin declared an interim dividend of C$0.13 a share.
The fourth quarter is historically Alphamin’s most logistically challenging period and current El Niño conditions raise the risk of a more disruptive rainy season than usual, the company points out, adding that it has proactively mobilised additional truck capacity and fuel reserves as a precautionary measure.
The increase comprises about $300/t in off-mine costs such as royalties, export duties, the smelter deductor and marketing fees, which are directly proportionate to the tin price increase, Alphamin says.
The remainder pertains to higher on-mine costs on the back of higher diesel and higher inbound and outbound logistics and transport costs, it adds.
Earnings before interest, taxes, depreciation and amortisation for the third quarter are estimated at $171-million.
Alphamin expects to release its financial results for the second quarter on or about November 12.
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