SEATTLE (ITRI.CO.UK): 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.
Courtesy: www. itri.co.uk