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    Alphamin record profit and dividend: tin mine margins and offtake notes for engineers

    April 30, 2026|

    Reviewed by Joe Ashwell

    Alphamin record profit and dividend: tin mine margins and offtake notes for engineers

    First reported on MINING.com

    30 Second Briefing

    Alphamin Resources reported record quarterly EBITDA of $158 million on tin production of 5,026 tonnes and sales of 5,016 tonnes, and declared a C$0.13-per-share dividend payable on 5 June as net cash increased by $128 million. Output from the Mpama North (c.4.5% tin grade) and Mpama South (c.2% grade) mines in the DRC has lifted annual production to about 20,000 tonnes in 2025 from 12,500 tonnes in 2024. All-in sustaining costs of roughly $17,000 per tonne sit well below the $30,000–$57,000 tin price range, supported by a four-year offtake with Gerald Metals.

    Technical Brief

    • Combining North and South has delivered scale economies, diluting fixed operating costs per tonne mined and milled.
    • The Gerald Metals contract reduces sales risk and streamlines export logistics from the remote DRC operation.
    • Management explicitly targets reinvestment to extend mine life, implying ongoing drilling, reserve conversion and potential expansion capex.
    • Tin demand tied to AI data centres, EVs and 5G solder use underpins long-term price assumptions for project planning.

    Our Take

    With Mpama North and Mpama South both carrying unusually high tin grades (around 4.5% and 2% Sn), Alphamin Resources is likely operating at the lower end of the global tin cost curve, which can sustain strong dividends even through tin price volatility.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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