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The Time for Tin

is now

It is no coincidence that one of the
projects which delivered the initial
success for Venture Minerals Ltd is
being revived for future rewards.

Following an eight-year drilling hiatus at the Mount Lindsay
tin-tungsten project in north-west Tasmania, Venture resumed
on-ground exploration last year and has now committed to an
underground feasibility study on what could be Australia’s next
tin mine.
Mount Lindsay already stands as one of the world’s largest un-
developed tin assets, boasting a high grade zone with a 4.7mt
@ 1.1% tin equivalent resource. It has also been listed as a criti-
cal minerals project by the Australian Government.
The decision to reinstate Mount Lindsay as the company’s flag-
ship asset was a simple one, according to Venture managing
director Andrew Radonjic, who pointed to a significantly higher
tin price compared to when the project was last seriously con-
sidered for development.
“We had some pretty dark days when the tin price went down to
about $US13,000/t in 2016, but we survived and we’ve been giv-
en another chance to look at this project which we’ve already goes according to plan, the company will move into full feasibil-
spent over $35 million on, including a feasibility study for an ity mode next year and seek to lock away construction funding
open pit in 2012,” Radonjic said. in early 2024.
“The world has changed a lot over the last 10 years or so and Pending the award of the required development and operating
recently we’ve seen the tin price break through $US50,000/t for permits, Mount Lindsay could be in production by 2025.
the first time. It has obviously pulled back a little bit since that The balance of this year will see Venture focused on explora-
record high, but the time for tin is now and we want to capture tion with Radonjic adamant there is plenty more tin to be found
some of the value for our shareholders.” in the district which is already home to the world-class Renison
Venture has appointed experienced mining engineer Glenn Bell mine which has produced more than 300,000t since 1968.
Van Vlemen to lead the underground feasibility study on Mount “We’re in such a fertile tin area that our next discovery is not an
Lindsay, while seasoned metallurgist Geoff Beros has also re- ‘if’ but a ‘when’ scenario,” he said.
joined the company as a consultant having played a key role in “This exploration is about finding the next 10 years at Mount
the original open pit design and assessment. Lindsay. For us, the best way we can bring this project to the
A metallurgical drilling programme – a critical long-lead item fore is if we can get another intersection of 17m @ 2% tin like we
for the underground feasibility study – was completed earlier did at Big Wilson back in 2012.”
this year. Radonjic stressed why this was an important early With the International Tin Association predicting a surge in de-
step for development of a tin project. mand driven by the lithium-ion battery market of up to 60,000
“Quite often the biggest issue with tin is recovery so it’s vital to tpa by 2030 (world tin consumption was 390,900t in 2021), Ven-
get your met work right before you worry about drilling out the ture’s quest to develop Australia’s next tin mine could not have
deposit, otherwise you could end up with something that has come at a better time.
quite a poor recovery ” he said. Affectionately known as the “spice metal”, tin has emerged as
“We’ve tried a whole range of tests and found electrostatic an essential component of the Fourth Industrial Revolution,
separation, which is a mineral sands technique, worked best through its application in solder – the “glue” which connects
because tin is highly conductive and tungsten is very weakly everything electronic.
conductive. It separated the tin and the tungsten beautifully Consumers are now also demanding ESG-compliant sources
and we produced a 75% tin concentrate, which is an outstand- of tin, putting the Mount Lindsay project in the frame as a po-
ing result because you can’t get more than 79%.” tential provider of choice to a number of global markets, includ-
Venture has pencilled in completion of the initial underground ing solar cell and electric vehicle manufacturing as well as wind
feasibility study on Mount Lindsay during Q4 this year. If all power and energy storage.