MOU with ECOBAT'S Resources Freiberg (ERF)

RNS Number : 2009O

First Tin PLC

09 June 2022

 

09 June 2022

First Tin Plc

("First Tin" or "the Company")

MOU with ECOBAT'S Resources Freiberg (ERF)

First Tin, a tin development company with advanced, low capex projects in Germany and Australia, is pleased to announce the signing of a non-binding Memorandum of Understanding ("MOU") with ERF, a market leader in the collection, recycling, production, and distribution of resources for battery systems. The MOU is in relation to its 100% owned Tellerhäuser Project in Germany and Taronga Project in Australia, with the intention of jointly establishing a fully integrated 'mine to metal' value chain in Germany.

 Overview:

· Together, both parties are focused on reintroducing primary tin production, smelting, and refining in Germany

· The MOU is in line with the Company's strategy to provide a fully traceable, ESG compliant supply of tin to Germany and the EU from conflict-free locations

· Over the next 18 months First Tin's German subsidiary Saxore Bergbau GmbH will jointly develop and execute a concept study and a feasibility study relating to a metallurgical project from primary and secondary raw materials. Under the premise that the study demonstrates viability, both parties aim to conduct basic and detailed engineering in 2023

· The potential partnership will contribute to reducing the pressure within Europe for this critical raw material during a global tin supply shortage

Thomas Buenger, Chief Executive Officer, commented:

"Our Tellerhäuser and Taronga Projects have exciting near term production potential, and this agreement represents a positive step towards commercialising our strategically located assets. ERF has the potential to become an offtake partner to First Tin and together, we have an opportunity to establish the first fully integrated 'mine to metal' value chain in Germany and Saxony. This is in line with our mission to supply a sustainable answer to the global supply shortage that many industrial users of tin are currently facing.

"Following the successful completion of our feasibility study, we hope to execute the basic and detailed engineering in 2023."

Enquiries:

First Tin	Via SEC Newgate below
Thomas Buenger - Chief Executive Officer
Arlington Group Asset Management Limited (Financial Advisor and Joint Broker)
Simon Catt	020 7389 5016
WH Ireland Limited (Joint Broker)
Harry Ansell	020 7220 1670
SEC Newgate (Financial PR)
Elisabeth Cowell / Molly Gretton	07900 248 213

Notes to Editors

First Tin is an ethical, reliable, and sustainable tin production company led by a team of renowned tin specialists. The Company is focused on becoming a tin supplier in conflict-free, low political risk jurisdictions through the rapid development of high value, low capex tin assets in Germany and Australia.

Tin is a critical metal, vital in any plan to decarbonise and electrify the world, yet Europe has very little supply. Rising demand, together with shortages, is expected to lead tin to experience sustained deficit markets for the foreseeable future. Its assets have been de-risked significantly, with extensive work undertaken to date.

First Tin's goal is to use best-in-class environmental standards to bring two tin mines into production in three years, providing provenance of supply to support the current global clean energy and technological revolutions.

 

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