Elementos Advances European Tin Supply Amid Global Shortfall

Elementos Positioned to Address Tin Supply Deficit

Elementos Limited, an ASX-listed tin developer, has delivered a robust quarterly update highlighting key advancements in its flagship Oropesa Tin Project in Spain and the Cleveland Tin Project in Tasmania, Australia. Against a backdrop of tightening global tin supply and rising demand driven by electronics, green technologies, and electric vehicles, Elementos is strategically advancing its projects to become a critical supplier, particularly within the European Union.

Oropesa Project: Nearing Definitive Feasibility and Vertical Integration

The Oropesa Tin Project, located in the mining-friendly Andalucía region, is progressing steadily towards a Definitive Feasibility Study (DFS) completion targeted for March 2025. The company has prepared primary licensing documents for submission, although bureaucratic delays in tenure extension remain a timing consideration. Importantly, Elementos is negotiating renewable power supply agreements to underpin the project’s sustainability credentials, aligning with stringent environmental benchmarks.

Strategically, Elementos is advancing an option agreement to acquire a 50% stake in the Robledallano Tin Smelter, situated 220km from Oropesa. This move would establish Elementos as Europe’s only vertically integrated tin mine-to-metal supplier, a significant competitive advantage given the current concentration of tin smelting in Asia. The company’s engagement with regional government bodies and local communities further supports the project’s development trajectory.

Cleveland Project: Expanding Critical Minerals Potential

In Tasmania, the Cleveland Tin Project continues to reveal a rich suite of critical minerals beyond tin and copper. Recent drilling intersected significant tungsten mineralisation within the 'Foleys Zone,' alongside rare and valuable minerals such as rubidium, fluorite, molybdenum, and bismuth. These findings elevate Cleveland’s profile as a potential critical minerals super project, with implications for diversified revenue streams and enhanced project economics.

Post-quarter, a downhole electromagnetic survey identified a shallow, high-priority target containing copper, gold, silver, and zinc approximately 70 meters below surface. Elementos plans a reconnaissance drilling program in early 2025 to validate this target, which could add further value to the project’s resource base.

Financial Position and Market Context

Elementos successfully raised $3.8 million through a placement and entitlement offer during the quarter, with Chairman Andy Greig increasing his participation to $1.53 million and renewing a $2 million loan facility to support ongoing operations. The company ended the quarter with $816,000 in cash and access to $2 million in undrawn loan facilities, providing a runway of approximately 2.7 quarters based on current expenditure levels.

The tin market remains challenged by supply disruptions in key producing regions such as Indonesia and Myanmar, compounded by geopolitical tensions in the Democratic Republic of Congo. The International Tin Association forecasts a structural deficit emerging by 2027/28, with demand driven by expanding applications in solar, data centres, AI, and electric vehicles. Elementos’ projects are well-positioned to capitalize on these dynamics, particularly with its focus on mature, regulated jurisdictions and vertical integration within Europe.

Looking Ahead

With the DFS for Oropesa imminent and critical mineral exploration advancing at Cleveland, 2025 is shaping up as a pivotal year for Elementos. The company’s ability to deliver a maiden JORC Ore Reserve, secure primary approvals, and finalize strategic partnerships will be key milestones. In addition, its unique position as a vertically integrated European tin supplier could attract significant investor interest amid global supply uncertainties.