DRC: Alphamin Resources needs capital of USD 116 million to develop its Mpama Sud tin project
According to the results of the preliminary economic assessment (PEA) of mining company Alphamin Resources’ Mpama Sud tin project in the Democratic Republic of Congo (DRC), the company will need at least US$116 million to develop this project.
This was revealed by the mining company on Monday, March 7, 2022, when publishing the results of the PEA of the said project.
The same results also indicated that the deposit hosts sufficient resources to support an annual contained tin production of 7,000 tonnes.
Indeed, Alphamin already produces tin in the DRC thanks to its Mpama Nord mine.
Pending the entry into production of Mpama Sud, the mining company plans to increase its volumes to 12,000 tonnes in 2022.
It should be noted that this site has 21,500 tonnes of tin contained in the “indicated” category and 49,100 tonnes of tin contained in the “inferred” category, according to the first estimate of the resources which indeed reports potential of 0.83 million tonnes of indicated resources grading 2.58% tin and 1.95 million tonnes of inferred resources grading 2.52% tin.
Also, the same PEA projected up to USD 187 million per year in profits for Mpama Sud before interest, taxes and amortization taking into account a tin price of USD 40,000/t. While advancing that the construction of the mine should last 20 months.
Along the same lines, CEO Maritz Smith felt that the development of Mpama Sud would bring Alphamin one step closer to its vision of becoming one of the world’s largest low-cost tin producers.
