Alphamin Resources, which is developing the Bisie tin mine in the northeastern Democratic Republic of Congo, had applied for a secondary listing on the JSE’s AltX sector as part of its equity fundraising for the project, it said on Tuesday. BMI Research, part of Fitch Group, forecasts a rise in global tin prices to $22,500/tonne by 2021 from about $19,500/tonne in 2017 as growth in tin demand, driven largely by the electronics sector, will outstrip production. China’s share of global consumption is expected to rise to 59% by 2021 from 55% at present, while India and Germany are also growing strongly. Alphamin, whose primary listing is on the Toronto Venture Exchange, has already spent $75m on exploration, infrastructure and the underground portal and decline shaft at Bisie. The mine will have a peak funding requirement of $172.1m, including $23m as a contingency. To date, Alphamin has raised $140.7m, or 80% of the peak funding requirement, including through a previous equity issue, ...
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