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Highlights
- Metals X increases stake in Elementos amid rising tin prices
- Tin market momentum continues with tech and EV sector demand
- Oropesa Tin Project positioned for strategic growth in Europe
In a move aligned with strengthening trends in the global tin market, Metals X (ASX:MLX), a prominent Australian tin producer, has raised its equity stake in Elementos (ASX:ELT) to 19.98% through a $5 million strategic investment. This development comes as tin prices witness a robust resurgence, driven by increasing demand from the technology, renewable energy, and electric vehicle sectors.
Metals X, which already co-owns the Renison Tin Operation in Tasmania—Australia's largest and among the world's highest-grade tin producers—will acquire 58.96 million Elementos shares at $0.0848 each. Additionally, Elementos plans to issue another 684,566 shares pending shareholder approval. This added backing underscores confidence in Elementos’ projects and the broader potential of tin in global supply chains.
The investment also gives Metals X the right to nominate two directors to the Elementos board, paving the way for closer collaboration. Executive director Brett Smith noted that this strategic alignment allows Metals X to apply its operational expertise to assist with the development of Elementos’ assets across key tin markets.
A major driver of this transaction is the bullish trajectory of tin prices. After slumping below US$30,000 per tonne earlier in 2025, tin has rebounded more than 10%, reaching US$32,816 per tonne as of May. Since November 2022, prices have surged over 82%, bolstered by demand linked to 5G expansion, climate technologies, semiconductors, and electric vehicles.
For investors following the S&P/ASX200, this trend places increased spotlight on tin producers and explorers listed on the exchange. Broader investor interest in resources-focused companies is contributing to diversification beyond traditional ASX dividend stocks.
Elementos recently unveiled a Definitive Feasibility Study (DFS) for its flagship Oropesa Tin Project in Spain. The project envisions a 1.4 million-tonne-per-year open-cut mine producing approximately 3,405 tonnes of tin ingots annually. With a projected 12-year mine life and all-in sustaining costs of US$15,000 per tonne, the DFS outlines a pre-tax NPV of $270 million, a 26% IRR, and a 2.7-year payback period, based on a tin price of US$30,000 per tonne.
Chairman Andy Greig highlighted the significance of partnering with Metals X to progress Oropesa and the Cleveland Tin Project in Tasmania. Notably, Oropesa is positioned to become the European Union’s only mine-to-metal tin operation, enhancing the region's supply chain resilience.
As the tin market continues to gain traction, the strategic realignment between Metals X and Elementos offers a compelling glimpse into how ASX-listed resource firms are responding to evolving industrial and technological demands..
