Tin ore is said to be on a downward curve during the period June 17-22, 2024 in the international metals markets.
Data from experts from the National Mercurial Commission of the Ministry of Foreign Trade of the Democratic Republic of Congo (DRC), one of the countries producing tin ore, indicates that a ton of tin should sell for 31,732 USD this week compared to 33,451 USD per tonne a week earlier.
At a one-week interval, tin is expected to lose USD 1,719 or -3.03% of its market value in the international metals markets.
The continued oscillations in the international precious metals markets should encourage the Government of the Democratic Republic of Congo to promote the diversification of the national economy so as not to be surprised by the drop in revenues.
The total production of cassiterite (tin ore) in the DRC in 2022 was estimated at 49,481.84 tonnes. This production is divided between industrial exploitation (33,331.58 tonnes) and artisanal exploitation (16,150.26 tonnes).
Total tin exports in 2022 were pegged at 32,854.59 tonnes worth US$428.8 million. Exports come from both industrial exploitation (24,307.88 tonnes) and artisanal exploitation (8,546.71 tonnes).
Mining company Alphamin Resources is the largest tin producer in the DRC, with 22,681 tonnes exported in 2022 worth US$296.7 million.
In 2023, Alphamin’s tin production at its Bisie mine remained stable at 12,568 tonnes.
The DRC remains a major producer of tin, with a total production of nearly 50,000 tonnes in 2022, mainly from industrial exploitation carried out by companies like Alphamin.
Mitterrand MASAMUNA
