First Tin

What First Tin does

First Tin plc is a London-listed tin mining and development company (LSE: 1SN) operating two advanced tin projects in Tier 1 OECD jurisdictions: the Taronga Tin Project in New South Wales, Australia (held through wholly-owned Taronga Mines Pty Ltd, acquired at the 2022 IPO), and the Tellerhäuser Tin Project in Saxony, Germany (held through wholly-owned Saxore Bergbau GmbH, acquired in 2013). The portfolio is supplemented by the Gottesberg satellite orebody and the Auersberg exploration project. Combined assets represent the world's second-largest undeveloped tin resources outside China, with 368,000+ tonnes of contained tin and a target production capacity of approximately 10,000 tonnes per year once both projects are operational.

The company's core technology is conventional mineral processing: simple tin mineralogy amenable to crushing and gravity separation. Tellerhäuser benefits from pre-existing underground infrastructure (180,000m of development, 500m of internal shafts, and a 7.8km main adit) that reduces surface footprint and capital intensity. Project economics at US$30,000/t tin pricing show Taronga DFS economics of $176M capex, 34% pre-tax IRR, and $243M NPV8, and Tellerhäuser scoping study economics of $49M capex, 58% pre-tax IRR, and $264M NPV8, with a combined NPV8 of approximately US$500M against US$263M of combined development capex. The Rittersgrün Mining Licence is valid until 2070.

The business model is direct B2B sales of tin commodity (priced at LME-referenced market rates) to industrial consumers in electronics, semiconductor, solar PV, and EV manufacturing once production commences. The company is pre-revenue and currently in the development and permitting phase. Ownership is anchored by Metals X Limited (29.95%), with Baker Steel Resources Trust (9.92%) and Sparta Invest AG (5.84%) as other significant shareholders. Capital raised to date includes a July 2024 Metals X-led round of approximately GBP 2.7M and an October 2024 capital raise of approximately US$10.3M. Leadership is headed by CEO Bill Scotting (former CEO of Nyrstar and ArcelorMittal Mining), with a board and management team combining over 150 years of mining industry experience. The company is a member of the International Tin Association and a qualified candidate for European Raw Material Alliance (ERMA) funding.

Name

First Tin

Legal name

First Tin plc

Website

https://firsttin.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

First Tin is a London-listed (LSE: 1SN) tin mining and development company operating two advanced projects in Australia and Germany with 368,000+ tonnes of contained tin resources, targeting 10,000 tonnes of annual conflict-free, traceable tin production for electronics, solar PV, and EV manufacturers.

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Others

Revenue model

1. Tin Production Sales: Pre-revenue development-stage company. Revenue will be generated from direct sales of mined tin product to industrial consumers once production commences. Tin is sold as a commodity at market prices (LME referenced).

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

First Tin is a tin mining and development company advancing two flagship tin projects — Taronga in New South Wales, Australia and Tellerhäuser in Saxony, Germany — along with satellite deposits Gottesberg and Auersberg. Once in production, the company will sell traceable, conflict-free tin concentrate directly to industrial consumers in electronics, solar PV, EV, and clean-technology sectors, with combined target output of approximately 10,000 tonnes of tin per year.

Product overview

First Tin is a tin mining and development company with two advanced tin projects in Australia and Germany. The company's product portfolio consists of tin mining projects: Taronga in Australia (acquired 2022, DFS complete) and Tellerhäuser in Germany, supported by satellite projects Gottesberg and Auersberg. First Tin's offering is ethically and reliably sourced tin for industrial consumers in clean energy and technology sectors, not a software platform. Combined, the assets represent the world's second largest undeveloped tin resources outside China with over 368,000 tonnes of contained tin and a clear path to producing up to 10,000 tonnes annually.

Differentiator

Problem solved

Functional benefit

Products and services

• Taronga Tin Project
• Tellerhäuser Tin Project
• Gottesberg Tin Project
• Auersberg Exploration Project

Quantifiable outcome

• Target production of 10,000 tonnes of tin annually
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and moderate.

• International Tin Association (ITA)coreStrategic or Co-development PartnerFirst Tin is a member of the International Tin Association (ITA), which supports the global tin industry and leads innovation in tin research and application. The company contributes to a more sustainable future for the industry through responsible mining.
• Crowe UK LLPcoreOthersAuditor to First Tin. Located at 55 Ludgate Hill, London EC4M 7JW.
• European Raw Material Alliance (ERMA)moderateStrategic or Co-development PartnerFirst Tin is a qualified candidate for ERMA funding and support. ERMA has identified tin from conflict-free sources as a critical raw material to support the EU's intention of becoming climate-neutral by 2050.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Minsur S.A. Peru's largest tin miner and one of the world's top three primary tin producers (San Rafael mine, Pisco smelter). Comparable as a vertically integrated primary tin producer serving global solder and industrial markets.
• Yunnan Tin Group (YTC): China's largest and the world's largest refined tin producer, controlling a significant share of global primary tin output. Establishes the supply-side competitive benchmark and price leadership context for First Tin's market entry.
• PT Timah Tbk: Indonesian state-linked tin miner and the world's largest integrated tin producer. Sets the marginal global tin price and supply benchmark that defines First Tin's competitive landscape.

Direct peers

• Elementos Limited: ASX-listed tin developer advancing the Cleveland tin project in Tasmania and Oropesa in Spain. Closely comparable stage (DFS-stage tin developer) and end-market focus on ethical tin supply.
• Metals X Limited: Metals X is Australia's largest listed primary tin producer and First Tin's largest shareholder (~29.95%). Directly comparable as a tin-focused miner with Australian assets, providing operational template and potential consolidation path for First Tin.
• Stellar Resources Limited: ASX-listed explorer/developer focused on the Heemskirk tin project in Tasmania, one of the largest undeveloped tin resources in Australia. Comparable as a tin-focused junior developer targeting conflict-free supply.

Emerging players

• Aus Tin Mining Limited: ASX-listed junior historically developing tin and cobalt assets in NSW, Australia. Comparable as a small-cap tin-focused junior in a similar Australian/New England tin belt context.
• Tin One Resources: Junior tin explorer with assets in Germany and Australia (historic tin districts). The geographic overlap with First Tin's Saxony assets makes this a directly comparable early-stage tin peer.
• Kasbah Resources Limited: Junior tin developer historically focused on the Achmmach tin project in Morocco. Comparable as a tin-only development play targeting OECD-grade supply chains.

Regional players

• Malaysia Smelting Corporation Berhad: MSC is a major tin smelter/producer and key Straits Trading Group subsidiary. Comparable as a primary tin metal producer serving industrial consumers with comparable end-market exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/FirstTinPlc
• YouTubeyoutube.com/channel/UCKXBv9WEhYqWCd_3ss5B6xg
• LinkedInlinkedin.com/company/first-tin

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Tin