The International Tin Supply Chain Initiative (ITSCI) has withdrawn from the North Kivu territory of Walikale in the Democratic Republic of the Congo (DRC) after rebel group M23 took control of the area in March.
ITSCI is a due diligence organisation that provides data and traceability tags for artisanally mined conflict minerals in the Great Lakes region of central Africa. Many smelters, trading firms and exporters of tantalum, tungsten and tin (3Ts) rely on ITSCI's services to source material reliably from conflict-affected areas in the Great Lakes region of central Africa.
ITSCI already had suspended operations in the Masisi and Lubero territories in North Kivu, as well as the Kalehe, Idjwi, Uvira and Kabare territories in South Kivu. ITSCI's withdrawal from Walikale is expected to tighten supply further for the 3T minerals, particularly tantalite, for which the DRC is a major producer.
Argus prices for minimum 25pc tantalite material have risen by 26pc since the start of M23's offensive in late January. Prices were last assessed today at $95-102/lb cif main port, up from $75-81/lb on 28 January.
M23's advance through North Kivu also has halted tin production at US-based Alphamin's Bisie tin mine in Walikale. Alphamin ceased operations and evacuated the site on 13 March. The LME three-month tin contract has risen by 14pc since the Bisie mine closure.
