UK Member of Parliament Anne Main has met with the International Tin Association as part of her campaign to highlight the need for greater UK government support of measures to regulate minerals supply chains, ensuring that armed conflict and human rights abuses are not linked to materials used in consumer products.
The visit reviewed the flagship ITSCI programme, led by International Tin in Central Africa, which has put in place comprehensive 100% OECD-aligned standards to trace and monitor risks associated with minerals from almost 2,000 mine sites as they are transported to smelters.
Information generated by ITSCI is available to downstream tin using companies, and is used by major electronics brands, to report on their due diligence and ensure that the minerals used in their products are responsibly sourced.
Japan’s Tertiary Industry Index on Apr was down to -0.30% from its previous 0.00% and Japan’s Machine Orders on Apr was down to -3.90% from its previous 2.10% MoM. China’s Retail Sales on Mar was down to 9.40% from its previous 10.10% YoY, China’s House Price Index on Apr was down to 4.70% from its previous 4.90% and China’s Foreign Direct Investment on Apr was down to 0.10% from its previous 0.50% YoY.
Strongbow expects to start trading on LSE’s AIM market in June
Strongbow Exploration (TSX-V: SBW), a Canadian firm expects the London listing to help it raise 25 million pounds ($34 million) over the next 18 months, which it will use to study the feasibility of resuming production at the South Crofty tin mine in Cornwall, southwest England. The explorer bought the underground mine, which holds about 30,000 tonnes of tin, in 2016, It had been a producing mine since 1592, though it had been shut down since 1998, as low metal prices made the operation financially unsustainable.
DRC mining regulations drafted as expected
The draft of over 700 pages recently circulated by the Ministry of Mines reportedly retains the windfall tax and the “special tax on excess profits”, despite opposition and proposals for alternative measures from the companies. The draft also retains the ability for the Prime Minister to designate minerals by decree as “strategic substances” potentially subject to a 10 percent royalty rate. The prime minister’s office has reportedly said that cobalt will be designated a strategic substance with copper and others under consideration.