Stonehenge Metals – a new tin mine for the west coast of Tasmania

From a report in The Sunday Examiner, 31 December 2006

Prospectors Kim and Royce McDermott of rosebery, on Tasmania’s west coast, have uncovered what could turn out to be one of the richest tin mines in Australia.

Rosebery
Rosebery, west coast Tasmania.
©Tourism Tasmania and John Voss

Their company, Stonehenge Metals, listed on the ASX on 21 December 2006. The McDermotts announced that they could begin mining at their Granville Rd lease as early as 2007. One million dollars has already been spent. The ore body is exposed and thousands of tonnes have been stockpiled.

Some ore has been sold to bluestone tin and concentrates have been exported to Malaysia.

Metal prices have increased with the boom in China and India. Demand exceeds supply. Tin, used in mobile phones and computers, sells for more than $11,000 a tonne and nickel, used in stainless steel, sells for more than $30,000 a tonne.

The McDermotts said that prospectors had not even scratched the surface of what was to be discovered on the west coast of Tasmania and they claimed to have found two more ore bodies in the last two weeks.

DISCLAIMER
This news item is presented as being of general interest on the state of economic development in Tasmania. It is not intended as investment advice. The author and the owners of T CHANGE do not hold shares in, nor do they derive any benefit whatsoever from the company/companies mentioned in this report.

minerals in tasmania

There are substantial high-grade mineral deposits in Tasmania.
» more ...