THE MINING COMPANY ALPHAMIN RESOURCES CONTINUES TO EXPORT TIN FROM THE DEMOCRATIC REPUBLIC OF CONGO (DRC) ACROSS THE BORDER WITH NEIGHBORING UGANDA DESPITE THE CLOSURE OF PART OF THE BORDER FOLLOWING FIGHTING BETWEEN THE DRC ARMED FORCES AND THE M23 REBELS SUPPORTED BY THE RWANDAN ARMY.
In a press release published on Wednesday June 15, 2022, Alphamin Resources indicates that exports usually use the border posts of Aru and Mahagi before reaching Uganda. However, these two entities are located about 1,000 km north of the town of Bunagana, the epicenter of the clashes.
“The recent closure of the Bunagana border post has [therefore] no impact on the company’s operations,” concludes Alphamin.
Note that several months ago, the eruption of the Nyiragongo volcano caused delays in Alphamin’s tin exports.
The situation has changed slightly since the beginning of the year, due in particular to the slowdown in economic activity in China.
We should also point out that on the London Metals Exchange, a ton of tin has gone from more than 40,000 USD in mid-January to 32,800 USD today.