Atlantic Tin is pleased to announce the completion of the acquisition of Société Anonyme
d’Entreprises Minières (“SAMINE”), from Managem S.A. (CAS:MNG) (“Managem”). SAMINE owns the
past producing El Hammam mine, including its infrastructure and tenements, located adjacent to the
Achmmach Tin Project (“Achmmach”) near Meknes, Morocco. SAMINE has been acquired by Atlantic
Tin’s 100% owned Moroccan subsidiary, Titan Tin.
“The acquisition of SAMINE is a major step forward in the development of the Achmmach tin
project,” said Simon Milroy, CEO of Atlantic Tin. “The SAMINE processing plant already has a
two-stage crushing plant, milling, flotation, thickening and filtering in place as well as
power, water and communications. This will result in a significant reduction in the capital
cost to bring the Achmmach mine into production in comparison to building new
infrastructure at Achmmach. The use of the existing infrastructure also results in reduced
environmental and social impacts.”
“With the acquisition of SAMINE, Atlantic Tin will become an industry leader in lead-time,
scale, capital intensity and cost position and will be positioned as a premier supplier of tin to
the Atlantic basin and beyond. In addition, the development of the Achmmach project will
bring many benefits to the region through employment and community development.”
The El Hammam mine is located 7km away from Achmmach. Ore will be mined underground
at Achmmach and transported by road 7km to the El Hammam mine for treatment to produce
tin concentrate. A definitive feasibility study has commenced. The study is based on an 18
month construction schedule with commercial tin production commencing in 2026 and
ramping up to a sustained mining and processing rate of 900,000 tpa of ore.
In addition to the existing processing plant, SAMINE has in place a 111 square kilometre
exploitation license along strike from the Achmmach project, which is highly prospective for
tin, see Figure 1. Exploration is planned to commence immediately on the SAMINE
exploitation license.
COMPLETION OF SAMINE AQUISITION
