Perth-based Kangaroo Metals Ltd has entered into a purchase agreement for the California Creek tin mine. The company was quoted as saying: It will assess the value of the assets with its own operations which are adjacent to the mine. For more information, click here Visit here for Kangaroo’s website.
Tin jumped more than 5 percent to $18,800 a tonne on a short-covering on London Metal Exchange. For more information, click here
Tin fell to their lowest levels in more than six months as base metals tumbled due to rally in dollar. For more information, click here
Indonesia based PT Kobatin had been reportedly accepting illegal tin Bangka Belitung area. For more information, click here
Edward Meir, an analyst at MF Global, was quoted as saying: Tin prices are expected to hold steady because the metal has stronger fundamentals than many others in its group. Click here for full story
The Association of Exporters of Minerals of North Kivu is expecting a decision tomorrow from the Democratic Republic of Congo’s Mines Ministry and Finance Ministry on recent increases in traders’ tax liabilities. In reaction to the tax hike, exporters in North Kivu, responsible for 75% of the country’s tin shipments, halted exports.
Tin has been experiencing a strong bull market in the last three years. In late 2005, the price of tin was around $6,000/t. Since then, the price has exploded, setting a record high $25,000/t on May 15, 2008. So far this year, the tin price has increased $53.
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