The price of tin rose to a year-to-date high of US$35,575 per metric ton in April on a series of supply and demand factors from the top tin-producing countries.
Despite declining in the second half of the year, prices appear to have found a bottom around the US$28,000 per metric ton level.
Tin remains essential for renewable energy generation and electronics, with nearly half of its use in soldering applications critical for semiconductors, mobile phones, and electric cars.
Overall, analysts project a bullish long-term outlook, with tin prices potentially reaching US$45,000 by 2033 as global demand continues to rise.
Read on to learn more about those countries and their contributions to the tin industry.
Tin production: 68,000 metric tons
Tin reserves: 1.1 million metric tons
China was the world’s top tin-producing country in 2023, with output totaling 68,000 metric tons. It continues its streak as the world’s largest tin-producing country despite a gradual year-on-year decline, down from 2022’s 71,000 MT.
China also holds the largest tin reserves in the world, with more than 1.1 million metric tons.
Tin production: 54,000 metric tons
Tin reserves: 700,000 metric tons
Myanmar, also known as Burma, produced 54,000 metric tons of tin in 2023, leapfrogging over Indonesia to become the world’s second-largest tin-producing country last year. The Asian country garnered the largest increase in tin production, up significantly from 47,000 MT in 2022.
Myanmar’s self-administered Wa state is home to the majority of the country’s tin output, including the Man Maw tin mine, which is one of the world’s top-producing tin mines.
Tin production: 52,000 metric tons
Tin reserves: Not available
Indonesia’s tin production came in at 52,000 metric tons in 2023. After coming within touching distance of first place the year before with tin production of 70,000 MT to China’s 71,000 MT, in 2023 Indonesia conceded its runner-up spot to Burma. Contrary to Burma’s production surge, the country recorded the steepest production dip in 2023.
Tin production: 23,000 metric tons
Tin reserves: 130,000 metric tons
Peru-based miner Minsur operates the San Rafael tin mine in the country. San Rafael is one of the world’s largest tin mines.
Tin production: 19,000 metric tons
Tin reserves: 120,000 metric tons
The Democratic Republic of Congo produced 19,000 metric tons of tin in 2023, a slight increase in its production compared to 2022’s 18,600 MT.
Tin production: 18,000 metric tons
Tin reserves: 420,000 metric tons
Brazil’s tin production totaled 18,000 metric tons in 2023, registering a slight year-over-year increase from 17,000 MT. Since its production uptick in recent years, Brazil remains as a mainstay among the world’s top tin producers.
Taboca, the largest tin producer in Brazil, contributed over a third of the country’s refined tin production in 2023 and is Brazil’s only fully integrated tin producer. The Pitinga mine in the Amazon holds the world’s largest tin resource by tin content, with reserves of 279,000 MT expected to sustain production for at least 30 years.
Tin production: 18,000 metric tons
Tin reserves: 400,000 metric tons
Bolivia makes the list tied with Brazil at 18,000 metric tons of tin production in 2023.
Further compounding the issue, Vinto did not receive concentrate from the country’s Huanuni and Calquiri mines for over two months due to US$90 million in outstanding debts, leading to protests by miners in La Paz who wanted the debt cancelled.
Tin production: 9,100 metric tons
Tin reserves: 620,000 metric tons
Australia’s tin output for 2023 remained relatively untouched at 9,100 metric tons, just a slight increase from 2022’s 9,000 MT.
Metals X, co-owner of the Renison mine in Tasmania, aims to leverage its operational expertise to accelerate First Tin’s Taronga project in New South Wales, which targets production by 2027 following a strong feasibility study.
Tin production: 8,100 metric tons
Tin reserves: Not available
Nigeria follows the trend of incremental production increases year by year, increasing by 15.71 percent or 8,100 MT from 2022’s 7,000 MT mark. Nigeria’s Plateau State, home to the country’s largest tin reserves, has witnessed a resurgence in mining activities as global tin prices rose above US$30,000 per metric ton in 2024, up from US$5,000 in the early 2000s.
Tin production: 6,100 metric tons
Tin reserves: Not available
Rounding out the list of the world’s top tin-producing countries for 2023 is Malaysia, which produced 6,100 metric tons last year, up from 2022’s 5,000 MT.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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