Tin International switches targets for 2014
Tin International , established by Deutsche Rohstoff AG as a holding vehicle for its tin assets in East Germany, has put development of its two large tin projects on hold following further delays to a planned IPO in Australia as a result of adverse market conditions. It will now concentrate on the smaller Sadisdorf project, rather than the Gottesberg and Geyer assets. A preliminary assessment of historical data by consultants CSA Global indicates a resource at Sadisdorf in the order of 40,000 tonnes of contained tin.
In a year-end review statement Deutsche Rohsroff, which has a 60% stake in TI, said that: "In 2014 Tin International and its operating subsidiary Sachsenzinn GmbH plan to primarily develop the license area Sadisdorf, which was granted in February 2013. The company is adequately funded from past capital increases. The exploration work will continue in Sadisdorf. To establish unhindered access to the historic mine refurbishments are currently planned in the old tunnels. This project has already been approved by the Saxon Mining Authorities (Sächsisches Oberbergamt). Subsequently, decisions about the scope of underground mining exploration work will be made. Further exploration activities for Gottesberg and Geyer will continue, but a drilling program for these sites is not planned for 2014.
The announcement is one of several recent changes relating to the cluster of large tin projects in the "ore mountains" of Saxony and the Czech Republic. As previously reported, UK private company Treliver Minerals completed an acquisition of Saxony Mines at the end of November, while Equamineral Holdings announced a deal to acquire the Czech Cinovec project in December.