Refined Tin

World's largest refined tin producer (SHEX: 000960); headquartered in Kunming, Yunnan Province, China. Produced 80,100 metric tons of refined tin in 2023 (+4% YoY), representing ~25% of global refined tin supply. Controls ~38% of Chinese domestic tin market. Operates advanced refining facilities in Kunming plus 5 major distribution centers. The Myanmar Wa State mining ban (August 2023) forced Yunnan Tin to diversify ore procurement from Indonesia, Peru, and Bolivia; Chinese workers previously operating in Wa State require visa reapplication. YTC's dominance in refined tin production means both float glass bath tin and electronics solder depend significantly on a single Yunnan Province operation.

Peru's dominant tin producer and the world's second-largest refined tin producer (36,300 MT in 2024, ~10% global share). Operates San Rafael — the world's deepest tin mine at ~1,000 m underground in Puno region, Peru — and the FUNSUR smelter (Pisco, Ica). Part of the Breca Group (Brescia family conglomerate). San Rafael has been in production since 1977. 36% of US refined tin imports in 2024 originated from Minsur/Peru.

China's third-largest refined tin producer (~21,800 MT in 2024, ~6% global share); headquartered in Wenshan Prefecture, Yunnan — the heart of China's tin belt. Processes concentrates from domestic Yunnan mines and imported Myanmar/Indonesian feed alongside Yunnan Tin. A key secondary player in the Chinese tin industry, operating in the same Yunnan smelting cluster as Yunnan Tin's Gejiu operations.

Canadian-listed (TSXV: AFM, JSE: APH) mining company operating the Bisie tin mine in Mpama North, North Kivu Province, eastern Democratic Republic of Congo. World's highest-grade tin deposit: 4.5% tin at Mpama North (vs. global average ~2%). Resources: 4.67 Mt ore @ 3.58% Sn = 167,300 tonnes tin. Produced 17,300 tonnes tin ore in 2024 (~6% global supply). CRITICAL DISRUPTION: Bisie mine suspended March 2025 as M23 rebels advanced to within 13km of the mine; phased resumption signaled April 2025 following insurgent withdrawal. Mine is in an active conflict zone — North Kivu is the epicenter of eastern DRC's multi-decade armed conflict.

Indonesian state-controlled tin mining and smelting company (IDX: TINS); operates on Bangka-Belitung Islands — historically one of the world's largest tin mining regions. World's 5th largest refined tin producer at ~8% global share. Indonesia imposed tin ore export restrictions in 2014-2016 and periodically since, creating supply disruptions. PT Timah is the dominant Indonesian producer; Indonesia's Bangka Island tin deposits are facing grade decline after centuries of mining.

Listed Malaysian toll smelter; world's 5th-largest refined tin producer (16,291 MT in 2024). Primary smelter at Butterworth, Penang (Pulau Indah facility, 60,000 MT/year nameplate capacity); operates at ~60-70% utilization. The largest single buyer of cassiterite from eastern DRC and Rwanda, confirmed by Congolese Mines Ministry. Works with ITRI on conflict mineral traceability. Processes both primary concentrate and secondary scrap feed.

Europe's primary secondary tin smelter; acquired by Aurubis AG from private equity in 2020 (previously known as Metallo Group / Metallo-Chimique). Processes ~350,000 MT/year of complex low-grade metallic and oxidic scrap; produces ~10,000 MT refined tin/year as a co-product alongside copper, lead, nickel oxide, and zinc oxide. Feedstock is nearly 100% secondary (scrap) — functions as the world's largest recycled tin producer. Located in Beerse, Antwerp province, Belgium.

State-owned Bolivian tin smelter (nationalized 2007; operated under COMIBOL); produced 12,700 MT refined tin in 2024 (~3% global share), recovering from a 2023 dip to ~10,000 MT. Smelts both domestic Bolivian concentrates from artisanal/small-scale miners and some imported Peruvian feed. Bolivia accounts for 33% of US refined tin imports (2024). Located in Oruro on the Altiplano — one of the highest-altitude industrial smelters in the world.