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The Transaction Marks a New Chapter for the Main Brazilian Tin Producer, Promising to Strengthen CNMC’s Operations in the Non-Ferrous Metals Sector
The Peruvian group Minsur announced the sale of Mineração Taboca to CNMC (China Nonferrous Mining Metal Company) for US$ 340 million. This transaction is a significant step for CNMC, a reputable Chinese mining company with a strong presence in non-ferrous metal operations in Asia and Africa.
Mineração Taboca and Its Role in the Market
Recognized as one of the Mineral Sector Companies of the Year 2024 in the Innovation and Technology/Mid-Sized category, Mineração Taboca is the main Brazilian producer of tin. The company operates the Pitinga mine, located in Presidente Figueiredo, in the state of Amazonas, where it also extracts tantalum and niobium. In addition to the mine, Taboca has a metallurgy unit in Pirapora do Bom Jesus (SP), where it processes the Pitinga concentrate, resulting in refined tin registered with the LME (London Metal Exchange) under the name MAMORÉ, according to Brasilmineral.
Performance in 2023
In 2023, Mineração Taboca achieved a production of 5,386 tons of refined tin and 4,410 tons of ferrous alloys. This performance surpassed the previous record of 4,008 tons, generating a revenue of US$ 256 million. However, the company faced a decrease of 3% compared to 2022, due to transportation delays caused by the low flow of the Amazon River, which impacted the logistics of transporting the concentrate to the São Paulo coast and subsequently to Pirapora.
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Financial Challenges
The Ebitda of Mineração Taboca also showed a significant decline, with a reduction of 37% compared to the previous year. The miner’s profit plummeted to just US$ 4.2 million, representing a drop of 92% from 2022. These financial challenges highlight the difficulties faced by the company, despite being a leader in the sector.
The Future of CNMC with Mineração Taboca
With the acquisition of Mineração Taboca, CNMC seeks to expand its operations and strengthen its position in the global non-ferrous metals market. The transaction not only solidifies the Chinese miner’s presence in Brazil but also opens new opportunities for improving operations and innovation in the mining sector.
The sale of Mineração Taboca is a milestone that could redefine the landscape of the tin and non-ferrous metals market, bringing new challenges and opportunities for the industry.
