Metals X is a globally significant tin producer through its 50% ownership of the Bluestone Mines Tasmania Joint Venture. The key assets of the Joint Venture are the world class Renison Tin Mine, a 700,000 tonne per annum tin concentrator plant and the Renison Expansion Project (Rentails).
The Renison Project is located on the west coast of Tasmania and is a world class hard rock tin deposit with mining spanning three centuries. The current Resource is 245,000 tonnes of tin metal, 78% of which is JORC measured and indicated category. Renison is held as part of a 50/50 joint venture with the largest tin producer in the world, Yunnan Tin Group. The project is targeting annualised tin production of 7-8,000 tonnes at an operating cash cost of approximately A$12-13,000/t, comparing favourably with current tin prices.
The current mining reserve estimate is 45,700 tonnes of contained tin with a resource of 153,000 tonnes of contained tin. In 2012, Metals X increased the mining reserve estimate by 23% and the mineral resource estimate by 13%.
Renison remains the only major tin project in production in Australia and one of the few publicly held tin projects in the world.