Tin One Mining JSC is pleased to announce the positive outcome of the Feasibility Study on the Syrymbet project

Tin One Mining JSC (the “Company”) is pleased to announce the positive outcome of the Feasibility Study(“FS”) on the Syrymbet project (the “Project”) completed by SRK Consulting  (SRK), which confirms a robust 14 years of operation, producing 90.4 kt tin in concentrate, 29 kt copper in concentrate and 2,051 kt fluorite in concentrate. The technical work undertaken and economic analysis show a positive return for the Project with strong fundamentals: proven deposit, outstanding potential and medium to low capital costs.

The FS demonstrates a number of significant improvements compared to the 2016 Pre-Feasibility Study (“PFS”) done by by Amec Foster Wheeler, including a  simplified process flowsheet, which has culminated in  delivering substantially improved project economics.

The Project will compromise of an open pit mine and will include the construction of a new 2.5 million tonnes per annum (“Mtpa”) processing plant, which consists of a two distinct crushing circuit for oxide and sulphide ores,  while the beneficiation incorporates copper flotation, bulk sulphide flotation, tin flotation and fluorite flotation.


The Project also has significant upside opportunities, with potential of bringing the Northeast and Southwest deposits into production, which collectively comprise of a potential Total Mineral Resource of 492 358 kt of contained tin metal for all deposits of the company.

Syrymbet will be one of the few tin mines in the world coming on‐line just as forecast demand for tin is expected to substantially increase.   Accordingly, the Company expects, and is already receiving, significant interest in offtake contracts.



Strong financial returns

  • NPV (10%) of USD 271
  • EBIDTA totalling USD 1,110m
  • Surplus of Net free cash flow of USD 697m with a short 4.5 years payback from the start of production


Physical parameters

  • 14 years mine life from a 26.3Mt Ore Reserves
    • 1% Sn for 134 kt of Tin fumes concentrate
    • 23% Cu for 126 kt of Copper concentrate
    • 7% CaF2for 2,709 kt of Fluorite concentrate


Environmental & Social

SRK is currently busy finalising the Environmental and Social Impact Assessment (ESIA) study

The ESIA study  commenced in March 2019 and at the time of the completion of the FS report, the ESIA was still in progress with a targeted completion date of Q3 2020

The ESIA process will be undertaken in accordance with Kazakhstan regulations, JSC Tin One Mining corporate standards and internationally recognised practice guidelines such as the Equator Principles (EPs) and International Finance Corporation (IFC) Policy, Performance Standards and Guidelines.

The ESIA study is based on:

  • Baseline Assessment
  • Impact Assessment and Predictive Modelling
  • Environmental and Social Management System (ESMS) and Management Planning

ESIA standards/guidelines stipulate that national regulations and standards are met as a minimum

Conclusions and recommendations will be available as soon as ESIA study has been completed



SRK was appointed as the overall reviewer and report compiler to oversee the FS process for the Project. The assignment involved a combination of authoring and reviewing the technical work of other consultants. SRK was therefore requested to review and “sign off” the work of third parties for the FS. SRK notes that the technical work in this report is generally considered to be at FS level. This is a level sufficient to report Reserves, justify a board decision to proceed with the Project, raise finance for the Project and obtain necessary permits to construct the Project.