Badr Tadlaoui
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13:41 – May 1 2025
The board of directors of Atlantic Tin, Australian company in charge of the development of the Achmamach tin deposit in Morocco, unanimously recommended its shareholders to accept the public purchase offer filed by the Chinese company Xingye Silver & Tin Company, according to a document consulted by Barlamane.com.
The Xingye group, operator of an important mining site in Mongolia-Interior, offers a price of 0.24 Australian dollar per share, an increase of 20 % compared to the course to which Atlantic Tin had proceeded to its capital increase in November 2024.
This proposal benefits from the support of the main shareholder of Atlantic Tin, the Pala investment fund, which holds nearly 72 % of the capital issued. The administrators judged that the offer “Represents a fair and timely perspective for all securities holders.”
-Atlantic Tin holds 75 % of the Achmmach project, located in the center of Morocco. The remaining capital is divided between Toyota Tsusho Corp (20 %) and Nittetsu Mining Co (5 %). The deposit displays a mineral resource of 39.1 million tonnes at an average content of 0.55 % in tin (SN), a total content of 213,300 tonnes. The mining plan provides for an annual cutting -edge production of 5,000 tonnes of tin concentrate.
The Australian company also controls the adjoining permits of Bou El Jaj and Samine where there is a treatment plant that will be used for the Achmmach ore. According to the framing study published in 2024, these sites also offer promising exploration potential.
In a press release, Shucheng Zhang, Managing Director of Xingye, said that the Atlantic Tin portfolio constitutes “A remarkable complement to Xingye’s expertise in the extraction and metallurgy of non -ferrous metals.” He added that this operation “Mark a decisive step in expanding the international influence of our group.”
Atlantic Tin’s general manager Simon Milroy expressed his full support for the transaction, saying: “I am delighted to see this asset entrusted to an experienced operator, capable of revealing its full value for the benefit of all stakeholders.”
