Elementos Limited (ASX: $ELT) resumes Oropesa Tin Project activities

Elementos Limited (ASX: $ELT) has announced the resumption of Definitive Feasibility Study (DFS) and licensing activities at its Oropesa Tin Project following an agreement with the Andalucian Government. The agreement entails modifications to the project layout aimed at enhancing environmental and community outcomes. The company has re-forecasted key project dates, with the completion of the DFS targeted for Q4-CY2024 and the first production for Q4-CY2027.

Executive Commentary on Oropesa Tin Project

Elementos' Managing Director, Joe David, expressed confidence in the project's future, emphasizing its strategic significance to the European Union and the commitment to responsible and local sourcing of critical minerals like tin. He acknowledged the Administration's support and collaborative efforts to improve the project's ESG credentials, highlighting the shared commitment to sustainable and responsible projects. Furthermore, he emphasized the project's role in stimulating the economically stressed north-western Cordoba region, demonstrating support from various levels of the Administration, local mayors, community stakeholders, and residents.

Summary of Oropesa Tin Project Resumption and Outlook

Elementos Limited (ASX: $ELT) has successfully reached an agreement with the Andalucian Government to resume licensing and DFS activities for its Oropesa Tin Project. The modifications to the project layout aim to minimize environmental impacts and enhance community outcomes, reflecting the company's commitment to responsible and sustainable projects. Despite the impact on previously forecasted development timelines, Elementos remains optimistic about the project's future, targeting primary approvals and a Final Investment Decision by the end of 2025, with the first tin concentrate delivery expected in late 2027. The company is now preparing the re-submission of key regulatory reports and is focused on completing the DFS by the end of the year. These developments position Elementos to contribute to bridging the forecast significant tin supply shortfall in the coming years, driven by increasing global demand and reduced productivity of major tin miners.