Alphamin Nears Tin Mine Restart in DRC After Rebel Retreat
Alphamin Resources Corp. may soon restart operations at one of the world’s largest tin mines in the Democratic Republic of the Congo (DRC), following the withdrawal of Rwanda-backed M23 rebels from the area, according to a senior U.S. official.
“We hope the company will resume — or at least announce plans to resume — operations soon,” said Massad Boulos, senior adviser for Africa to former U.S. President Donald Trump, during a press briefing Tuesday in Kigali, Rwanda. “We strongly encourage them to restart operations.”
Toronto-listed Alphamin suspended mining at its Bisie tin mine last month to safeguard its workforce as M23 rebels advanced toward the site. The group has since retreated, under mounting pressure from the U.S. and other international actors.
“We’ve seen encouraging progress in recent days — that’s excellent news,” said Boulos, who is also the father-in-law of Trump’s daughter Tiffany. His regional tour of Central and East Africa forms part of a broader U.S. effort to support peace and stability in this mineral-rich yet conflict-prone region.
Alphamin, majority-owned by U.S. and UK-based Denham Capital, is one of the few Western-backed mining operations in eastern DRC. The Bisie mine is a significant contributor to global tin supply.
“It’s unfortunate to see such a major operation — one that employs thousands and supports the local economy and surrounding countries — forced to shut down,” Boulos added.
Alphamin did not respond to calls or emails from Bloomberg seeking comment on Tuesday.
In 2024, the Bisie mine produced 17,300 metric tons of tin concentrate, accounting for roughly 6% of the global supply, according to Chinese brokerage First Futures Co.
Despite the suspension of operations on March 13, Alphamin’s stock has surged by 27%, closing at C$0.59 on Tuesday in Toronto. The company’s share price reached a one-year high of C$1.31 on October 21.
75 total views , 2 views today
