Consolidated Tin Mines in talks with Chinese off take partners
Consolidated Tin Mines (ASX: CSD) is to enter discussions with potential
Chinese off-take and joint venture partners in Shanghai, China, for its
Mt Garnet Tin Project.
Mt Garnet is located in one of
Australia’s largest tin producing areas in the Herberton Tin Field near
Cairns in northern Queensland.
Consolidated Tin have a
substantial land holding of quality tin assets in the project and is
developing it as a large scale, long term producing mine.
Ralph
De Lacey, managing director, will commence discussions next week with a
number of investment groups and representatives of tin smelters on
future off-take arrangements and joint venture investment partnerships
for the development of the Mt Garnet Project.
This will include
participation at the Queensland-China Trade and Investment Forum at the
specific invitation of the Queensland government, which will feature
approximately 100 potential Chinese investors. The Forum forms part of
the Shanghai World Expo 2010.
The Mt Garnet Project has a total
JORC Resource of 5.27Mt @ 0.64% Tin. This includes a JORC Measured
Resource of @ 1.2 million tonnes @ 0.82% Tin, and a JORC Indicated
Resource of 824,100 tonnes @ 0.73% Tin.
The project area is made
of three principle projects – Gillian, Pinnacles and Deadmans Gully.
The Gillian Project is the Company’s most advanced project.
The
Mt Garnet Project area is also highly prospective for iron
mineralisation, and also has a JORC Iron resource of 5.3Mt @ 26.39% Iron
(Fe).
Ralph De Lacey said that through the development of the Mt
Garnet Project, Consolidated Tin plans to become Queensland’s major tin
producing company.
It also has a portfolio of alluvial tin
projects in the same region, which it is looking to bring into
production in the near term, to provide strong cash flows for the
company.
