ITA calls for investment in supply to secure tin’s critical role
Time:Fri, 02 Dec 2022 11:16:01 +0800
keywords : Tin,ITA
ITA calls for investment in supply to secure tin’s critical role
During the annual International Tin Association’s (ITA) Investing in Tin Seminar, the organisation presented its vision for the future of tin with the latest strategic thinking of the industry. There is a major investment opportunity for tin mining and recycling as the metal is a vital ingredient in solar energy, electric vehicles and other future technologies.
“Over the next decade we believe demand for tin will surge as the technology supercycle brings unprecedented opportunities for the tin industry,” said Dr Jeremy Pearce, Head of Market Intelligence & Communications at ITA. “The sector will need to adapt rapidly to meet this demand as the role of tin in enabling the energy transition and digitisation becomes more obvious”.
During the event, ITA previewed first stage results of its TIN2030 initiative. This industry vision to 2030 looks at the sector through the lens of macroeconomic influences, growing sustainability pressures and opportunities and the role of technology. It concludes with a wakeup call to the crucial role of tin, for example as solder - the glue that holds together all electronic and electrical infrastructures.
As the awareness of tin’s importance grows, so too will the need to secure supply. The organisation highlighted the scale of new investment required to meet the expected surge in demand. It estimates that $1.4 billion is needed to deliver 50,000 tpa more tin by 2030. This represents a huge opportunity for investors, allowing the tin sector to build a better future for all.
During the event the organisation also announced its flagship Tin Code ESG reporting tool is being extended for voluntary participation by ITA Explorers and Developers Group members. ESG performance will be an essential step in securing investment in new supply. The Code allows its members to demonstrate their ESG commitment and work towards positive improvement in their operations and the global tin industry.
The ITA looks forward to continuing to be the leading voice for the sector and supporting its members as the tin industry takes advantage of these dramatic new market dynamics.
Notes to editors
About International Tin Association:
The International Tin Association is the world's foremost authority on tin with over 90 years’ experience in tin related technologies.
Representing more than two thirds of world tin production, ITA aims to bring leading companies together to give authority, leadership, and voice to its members. Its expert analysis of tin markets and technologies enables the industry to confidently invest in expanding supply. At the same time sustainability has been at the forefront of the organisation’s vision for more than a decade, coordinating tin supply chain efforts to create and implement pioneering ESG operational and reporting standards.
About TIN2030
This project is aimed at setting out a vision for tin to 2030, including an ITA strategy that can continue to provide authority, leadership, and voice to the tin industry. It was developed by gathering inputs from various stakeholders including producers, traders, downstream companies, industry associations and sustainability experts. Combined with ITAs own understanding and research the findings have been condensed into a TIN2030 report, to be published early 2023.
About Investing in Tin Seminar
The International Tin Association’s Investing in Tin Seminar, now in its 11th year, provides a unique platform for investors, junior mining companies, and analysts from the tin world to come together and engage, network, and hear the latest vision and opportunities for tin. https://www.internationaltin.org/investing-in-tin-seminar/
About the Tin Code
The Tin Code is specifically designed for tin mining, smelting and recycling operations globally and takes into account the expectations of influential and important tin consumers. In order to harmonise information requests from external parties, minimise costs, and ensure comparable reporting and evaluation, all International Tin Association members have committed to adopt the Tin Code and its reporting requirements. To find out more click here. For more information on how to participate in the global standard, please contact tincode@internationaltin.org
For further enquiries please contact:
Dr Jeremy Pearce
Market Intelligence & Communications
Tel: +44 (0) 1727 871311
Mob: +44 (0)79 09890630
Email: jeremy.pearce@internationaltin.org
