Tin prices have surged to a two-year high due to the suspension of the Bisie mine in the DRC amid rising unrest from the M23 rebel group. The situation exacerbates the global tin shortage, with prices reaching $37,100 per tonne. Political turmoil is complicating recovery in the tin market, while potential negotiations with the M23 present uncertain next steps for the DRC government.
Tin prices have surged to their highest level in over two years due to the temporary suspension of operations at Alphamin Resources’ Bisie mine in the Democratic Republic of the Congo (DRC). This halt is a consequence of rising unrest in the North Kivu province, where the M23 rebel group has recently advanced, threatening the region’s stability.
As of March 12, 2025, the rebels have occupied key locations near the mine, contributing to increased market concerns. Consequently, tin prices soared to $37,100 per tonne in London, the highest noted since June 2022, before settling at $36,280 per tonne following a substantial 7.4% increase.
First Futures Co. expressed uncertainty regarding the suspension duration, stating it would exacerbate the ongoing global tin ore shortage. Alphamin’s stock experienced an increase of 8.4% in Toronto, elevating the company’s market capitalization to $443 million.
The political instability in the DRC is further intensified by the mining halt in Myanmar’s Wa State, resulting in a significant 25% rise in LME tin prices this year. In 2024, the Bisie mine produced 17,300 tonnes of tin ore, representing approximately 6% of the global supply.
The M23 rebels’ advances since January reflect a worsening conflict that stems from historical tensions following Rwanda’s 1994 genocide, compounded by competition for Congo’s mineral resources. Upcoming direct talks between Congo and the M23, announced by Angola’s presidency, may present a potential resolution; however, prior rejections from Congo’s government regarding direct discussions cast doubt on actual collaborations.
In summary, tin prices have reached a two-year peak due to the disruption caused by the unrest surrounding Alphamin Resources’ Bisie mine. The ongoing geopolitical issues in the DRC and the closure of another mining operation in Myanmar have further strained the global tin market, leading to significant price increases. The future remains uncertain as the government considers negotiations with the M23 rebel group amidst these challenges.
Original Source: www.mining.com
