Botswana Mining Review Comprehensive Coverage of the Progress and Achievements in the Mining Sector
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Alphamin has stated that security risks in the Democratic Republic of Congo (DRC)’s North Kivu province remain elevated but strong production and higher tin prices continue to underpin solid financial performance at its Bisie mine. In its fourth-quarter production update, the company said there has been “an increased number of security events” near the border between the Massisi and Walikale territories, where Congolese forces and pro-government militias are clashing with M23 rebels.
Although Bisie lies about 200 km from the affected areas, Alphamin cautioned that the mine’s operating risk profile “remains elevated and a sustained advance closer to the mine location could result in mining operations being affected”. The warning comes after operations at Bisie were suspended in March last year as fighting intensified nearby, with mining restarting gradually from mid-April. Fresh fighting has since been reported in eastern Congo, including around the town of Uvira, despite multiple international mediation efforts involving the United States, Qatar and regional leaders.
Operationally, Bisie continued to deliver. The mine produced 5,008 t of contained tin in the December quarter, only slightly below the previous quarter, contributing to a 7% year-on-year increase to 18,576 t for 2025. Supported by a 13% rise in average tin prices, Alphamin reported Ebitda of $341 Million for the year, up 25% on 2024. “The current tin price and continued steady production bode well for increased cash flow generation and the potential for higher dividends to shareholders,” noted the company.
Tin prices averaged $34,388/t in 2025 and have recently climbed as high as $48,000/t amid growing demand for critical minerals. Alphamin ended the year with $50 Million in net cash, up from $30 Million a year earlier and said the Chief Executive Officer, Maritz Smith will step down after six years, to be succeeded by Chief Financial Officer, Eoin O’Driscoll from 1 March 2026.
