Alphamin Resources Posts Record $158M EBITDA on Surging Tin Prices and Stable DRC Operations
Alphamin Resources Reports Record Q1 2026 Earnings as Tin Prices Jump 30% and Production Holds Steady in DRC
Tin producer Alphamin Resources, which operates assets in the Democratic Republic of Congo (DRC), has reported record earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $158 million for the three months ended March 31, the first quarter of its 2026 financial year.
This represents a 46% increase quarter-on-quarter, driven primarily by a sharp rise in tin prices.
The average tin price climbed 30% over the period, increasing from $37,995 per tonne in the previous quarter to $49,278 per tonne in the reporting period.
Production and Sales Performance
Contained tin production reached 5,026 tonnes for the quarter, in line with both the company’s annual guidance of 20,000 tonnes and the previous quarter’s output.
Tin sales totalled 5,016 tonnes, slightly below the 5,045 tonnes recorded in the prior quarter.
However, improved road conditions and stronger pricing contributed to a significant improvement in cash generation, resulting in a net cash increase of $128 million.
Dividend Declaration and Costs
The company declared a final full-year 2025 cash dividend of C$0.13 per share.
All-in sustaining costs (AISC) rose 7% to $17,968 per tonne sold. The increase was mainly due to higher royalties, export duties, marketing commissions, and net smelter return charges, all of which are linked to the higher prevailing tin price.
Fuel costs did not materially impact results during the quarter, although the company expects upward pressure in the second quarter.
Since early March, additional fuel supplies have been sourced at a 25% to 35% premium.
Alphamin currently holds approximately 45 days of diesel on site, with a further 60 days of supply in transit within the DRC en route to the mine.
Operations and Security Environment
The company reported that the security situation in North Kivu province has remained relatively stable since October 2025.
Its mining operations are located approximately 200 kilometres from areas of recent unrest.
Alphamin confirmed that operations continue to run within planned guidance parameters. However, it noted that the overall operating environment remains high risk. A significant deterioration in regional security or an advance of instability closer to the mine could disrupt future production activities.
