Alphamin Resources reports decline in tin production
Alphamin Resources Corp. reported a decline in tin production for the first quarter of 2025 due to a temporary halt in operations caused by regional security threats. The company produced 4,270 tonnes of contained tin during Q1, representing an 18% decrease from the previous quarter’s output of 5,237 tonnes.
This interruption occurred after mining and processing activities were suspended on March 13, 2025, due to insurgent activity near the mine. Despite the lower production volume, the average tin grade processed increased by 18% to 3.55%, prompting the company to reduce throughput to maintain high recovery rates. Processing performance remained strong, with an average recovery of 75%, surpassing the company’s target of 73%.
Quarterly sales
Sales for the quarter reached 3,863 tonnes, slightly below production, but Alphamin noted that total sales had increased to 4,581 tonnes by mid-April due to post-quarter exports. Financially, the company anticipates EBITDA of $62 million for Q1 2025, down from $76 million in Q4 2024. The increase in all-in sustaining costs (AISC) to $16,339 per tonne—9% higher than the previous quarter—was attributed to fixed costs, care and maintenance expenses, and the cost of evacuating personnel during the shutdown. As a result of the interruption, the full-year 2025 production guidance has been revised downward to 17,500 tonnes from the original forecast of 20,000 tonnes.
Operations resumed on April 15, 2025, beginning with the processing of run-of-mine stockpiles. Underground mining is expected to restart later in April as workers return to site. The company confirmed that inbound and outbound logistics operations have normalized, and the mine is fully equipped with necessary consumables and spare parts to support the ramp-up. At the end of the reporting period, Alphamin held a strong cash position of $99 million and anticipated $38 million in additional sales receipts before the end of April. The company has not drawn on its $50 million prepayment facility and is in the process of renewing its $53 million overdraft facility, subject to specific financial conditions.
The security environment in eastern DRC remains volatile. Since January 2025, insurgent forces have taken control of major cities including Goma and Bukavu. The threat escalated in March as the insurgents advanced within 110 kilometers of Alphamin’s mining operations, leading to the suspension of activities. On March 20, insurgents occupied the town of Walikale but withdrew eastward toward Masisi by early April, allowing the company to resume operations. Alphamin continues to monitor the situation closely, prioritizing the safety of its employees and compliance with local and international laws.
In a key leadership development, John Robertson, Managing Director of Alphamin Bisie Mining (ABM), announced his retirement. Jac van Heerden, a seasoned mining professional with 25 years of experience across African operations, has been appointed as the new MD, pending regulatory approval. His expertise in both surface and underground mining is expected to strengthen ABM’s operational capabilities as the company navigates this challenging period and continues its growth strategy.
