Tin Prices Surge Due to Suspension of DRC Mine Amidst Escalating Conflict
Tin prices have soared to a two-year high of $37,100 per tonne following the suspension of Alphamin Resources’ Bisie mine in the DRC due to unrest caused by the M23 rebel group’s advances. The mine contributes approximately 6% of global tin supply, and political turmoil in the region exacerbates the situation as negotiations with the rebels are planned.
Tin prices have reached their highest level in over two years, attributed to the suspension of operations at the Bisie mine in the Democratic Republic of the Congo (DRC) owned by Alphamin Resources. The cessation is due to unrest in the North Kivu province, where the Rwanda-backed M23 rebel group has made advances, capturing towns near the mine. On March 9, 2025, the rebels occupied Nyabiondo, and subsequently took Kashebere on March 12, exacerbating the situation.
The price of tin surged to a peak of $37,100 per tonne in London, its highest since June 2022, before stabilizing at $36,280 per tonne as of 12:25 p.m. local time on Thursday, following a notable 7.4% increase earlier. Additionally, tin futures in Shanghai reached their daily maximum limit of 10%. According to First Futures Co., the prolonged halt in mining operations will exacerbate the existing global tin ore shortage, though the duration of the pause remains uncertain.
Alphamin’s stock experienced an 8.4% increase, valuing the company at $443 million in the Toronto market. The political instability in the DRC, along with the suspension of mining activities in Myanmar’s Wa State, has contributed to a 25% rise in LME tin prices this year. In 2024, the Bisie mine was responsible for producing 17,300 tonnes of tin ore, making up about 6% of global supply.
Since January, M23 rebels have captured two major cities in eastern Congo, intensifying a conflict that relates to historical tensions from Rwanda’s 1994 genocide and competition for Congo’s mineral wealth. Meanwhile, Angola’s presidency has announced plans for direct talks between the DRC government and M23 rebels in Luanda next week, marking a potential shift in diplomatic relations.
In summary, the suspension of tin mining at Alphamin Resources’ Bisie mine due to regional unrest has driven tin prices to their highest levels in over two years. This situation has been compounded by political turmoil and the ongoing conflict in the DRC, affecting global supply and price. Direct negotiations between the Congo government and the M23 rebels are a significant development, although the DRC’s participation has not been officially confirmed.
Original Source: www.mining.com
