mine (LOM), adding that the favourable tin price helps with self- funding its exploration initiatives. “A major priority for the coming years is to extend LOM, should that be successful, we will be able to consider all kinds of CapEx projects, including additional processing capacity to increase our output,” says O’Driscoll. The Bisie Tin Mine The Bisie Tin Mine is one of the world’s highest-grade and largest tin mines, contributing roughly 7% of global production. Located in North Kivu, it operates Mpama North and Mpama South, providing 20 000 tonnes per annum. Alphamin’s Mpama North mine is the world’s highest-grade tin mine, currently producing mined material (run of mine) at an average grade of around 4% tin. At a tin grade of 2%, Mpama South is the world’s second highest-grade tin mine. Together, the operations offer a blended grade of roughly 3%. Having achieved steady state production of 20 000 tpa, the company has its eye firmly set on expanding the LOM beyond its current seven years. The project is part of a larger, highly mineralised area, with the company holding an additional five exploration licenses covering a total area of 1 270 km² in the province. According to O’Driscoll, the Bisie mine tenement is largely under-explored. During development, first of the Mpama North between 2017 to 2019, followed by Mpama South during 2023 and 2024, exploration activities were paused. “Moreover, exploration ramp-up last year was interrupted by the evacuation early in the year. Going forward, the plan is to aggressively tackle exploration and expand the LOM.” In March last year the company suspended operations and evacuated non-essential staff from its Bisie tin mine due to the advancing rebel force. Looking ahead, the miner’s exploration initiative targets: Resource Expansion: Extending the mine life at Mpama North and Mpama South. New Discovery: Identifying the next major tin deposit within the Bisie mine vicinity. Regional Growth: Continuing grassroots exploration across our highly prospective land package. Alphamin has five drill rigs operating on-site. In Quarter 1, the company drilled around 4 000 metres - a substantial increase from Q4, 2025, when it drilled 2 811 metres. According to O’Driscoll, drilling constraints are largely dictated by the terrain, which affects how efficiently drill rigs can be deployed across identified target areas. The company is currently conducting helicopter-borne electromagnetic surveys, including Versatile Time Domain Electromagnetic (VTEM) work, to identify additional drilling targets. Last year, Alphamin invested approximately $4m million in exploration and this year it has earmarked $15m - $20m. Over the next 12 to 18 months, the company expects to maintain an intensive exploration focus. “The Bisie Tin mine is a high-quality asset - highly cash- generative and well-managed. It is an exceptionally profitable tin operation, and one the company takes considerable pride in,” concludes O’Driscoll. n
At a tin grade of 2%, Mpama South is the world’s second highest-grade tin mine.
exploration or the transition to hard rock mining. Even if such investment began today, developing the necessary infrastructure could take a decade, and international capital is currently unlikely to flow into the region.” Indonesia faces its own challenges. Much of its higher-grade hard rock resources have been depleted, and offshore dredging operations are yielding lower volumes, making it increasingly difficult to sustain production. “Overall, the market is characterised by tight supply meeting steady to moderately increasing demand. This imbalance appears structural rather than temporary, suggesting that tin prices are unlikely to decline meaningfully over the next three to five years.” In 2018, Alphamin Resources entered an offtake agreement with US-based Gerald Metals SA for a period of five years for 100% of the tin concentrate. Further to this, the company is in discussions with Nathan Trotter - the largest importer of tin in North America - which is developing the first US tin smelter in many years. “The facility is earmarked to come online in the first half of 2027 with expectations of capacity to process a portion of our tin. We anticipate beginning shipments of concentrate early next year.” Quarterly results Discussing Alphamin’s quarterly results, O’Driscoll says that the average tin price of nearly $50 000 a ton drove the substantial increase in profit for the quarter. Contained tin production of 5 026 tonnes for the quarter ended March 2026 was in line with the target guidance of 20 000 tonnes per annum and that of the previous period. Tin sales of 5 016 tons were achieved compared to 5 045 in Q4 2025, with the strong tin price resulting in a net cash increase of $128m. “Our cost basis is relatively stable and low. The increase in costs in Quarter 1, is largely associated with an improved tin price – essentially, when the price soars, so do the costs such as increased royalties, export duties, marketing commissions and net smelter returns. As it stands, we have our costs and production under control and are receiving a good price for our commodity,” explains Alphamin Bisie Mining CFO, JP van Staden. The low debt, low-cost producer is eager to expand its life of
JULY 2026 | www.modernminingmagazine.co.za MODERN MINING 21
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