Nov. 23 -- Metals X said that the commencement of copper production at the Renison operation in Tasmania will reduce net costs of tin production by A$1,000 – 1,500/tonne (The Australian dollar is currently at parity with the US dollar). The mine and concentrator is a 50:50 joint venture with the Yunnan Tin Group and partners and is currently producing around 7,000 tpy of tin-in-concentrate.
In a statement metals X said that copper concentrate grades and recoveries are higher than those achieved in the initial test work, with copper co-product production expected to be at a rate of 1,000-2,000 tpy. The concentrate also contains a significant silver credit, with initial test work indicating 400ppm silver in final concentrates, potentially adding silver production of up to 100,000 oz per annum to the operation.
The company reported operating cash costs of A$13,785/tonne in its most recent quarterly results, although these were already expected to fall as production at the Renison mine was stepped up.