Australian tin miner Metals X Limited (ASX: MLX) released its Q2 2026 operational report. The report showed that the company’s Renison tin mine produced 2,809 tonnes of tin metal in tin concentrates in Q2, down approximately 2.7% QoQ from 2,887 tonnes in Q1. On the production side, ore mined totaled 200,300 tonnes in Q2, down 6.11% QoQ, mainly due to limited availability of loaders, trucks, and hoists, along with stope sequencing delays. The ore grade mined was 1.58% Sn, slightly lower than the 1.63% in Q1. Ore milled reached 183,800 tonnes, up 14.60% QoQ, with mill head grade declining to 1.95% Sn (Q1: 2.24% Sn), and the processing recovery rate was 78.55% (Q1: 80.35%). For the Renison mineral resource update, total resources increased to 21.8 million tonnes at a grade of 1.38% tin, containing 300,300 tonnes of tin. Measured and Indicated tin content rose 7% to 264,100 tonnes. The mine life plan and ore reserve update are expected to be completed in Q3.

[SMM Morning Tin Report: US Fed holds rates for 5th straight time, SHFE tin 2609 contract returns to 418,000]

Tin Leads the Future: Industrial Transformation and Value Reshaping in a New Cycle Conference Background Currently, the global tin industry stands at a historic turning point, with traditional cyclical logic thoroughly broken and strategic value fully highlighted. The tin market in 2026 presents an unprecedentedly complex landscape and profound changes: 1. Deep Restructuring of the Supply-Demand Pattern and Unprecedented Elevation of Strategic Attributes Global tin resources have a static reserve-to-production ratio of only 14 years, with scarcity becoming increasingly prominent. The supply side faces "triple pressures": repeated disruptions in Myanmar's production resumption processes, continued tightening of Indonesian policies, and high geopolitical risks in the DRC, making resource constraints the new normal. At the same time, the demand structure is undergoing a fundamental shift, and tin has become a strategic resource connecting traditional manufacturing and the digital future. 2. Price System Breaking Historical Records and the Industrial Ecosystem Facing Restructuring In early 2026, the SHFE tin price broke through 470,000 yuan/mt, reaching a new historical high. This price breakthrough is not only a manifestation of the supply-demand imbalance but also a symbol of the value reassessment of the tin industry. Traditional trade models, risk management systems, and supply chain collaboration methods are all in urgent need of innovative breakthroughs. 3. Technology-Driven and Green Transition Giving Rise to a New Symbiotic Ecosystem Digital and intelligent technologies are deeply empowering the tin industry chain. The global green transition requires the tin industry to upgrade toward low-carbon and circular economy models, making recycled tin recovery and green smelting processes unavoidable paths. All links in the industry chain must shift from competition to collaboration, building an open, resilient, and innovative symbiotic system. Against this backdrop, August 19-21, 2026 , held in Changsha, Hunan , the 2026 SMM (16th) Tin Industry Chain Conference will gather global industry elites for discussion. Honghe Yongsen Mining Co., Ltd. will attend this grand event to discuss industry development trends with peers and jointly propel the tin industry to new heights. Click to register now for the conference, to witness and participate in this extraordinary and far-reaching industry event, and to jointly create a brilliant new chapter! Honghe Yongsen Mining Co., Ltd. is located in Gejiu City, Yunnan Province, the world-renowned capital of tin. Founded in 2004, the company has mainly engaged in the production, processing, and sales of tin concentrates. After years of arduous entrepreneurship, it has developed into an enterprise with over 80 employees, including more than 10 technical personnel; registered capital of 100 million yuan, total assets of over 600 million yuan, fixed assets of over 25 million yuan, and annual sales revenue of approximately 2.5 billion yuan; it occupies over 10,000 m²; raw materials come from China, Southeast Asia, Africa, Europe, South America, Russia, and other regions, and it maintains long-term friendly cooperative relationships with many well-known enterprises in and outside China. The company is an international first-class non-ferrous metal processing and trading enterprise that integrates metals, metallic and non-metallic ores, as well as tin ore gravity separation, magnetic separation, and flotation processes. The company possesses advanced detection methods, complete equipment configurations, and mature processing technologies. Currently, it produces an average of 15,000 mt of tin concentrates and tungsten concentrates annually, and expands capacity recovery for other valuable metals such as copper, lead, tungsten, iron, and zinc. Within the company premises, about 2,800 m² of trees, flowers, and green belts have been planted, creating a high-quality production and living environment, with "three wastes" emissions meeting national standards and control requirements. The company's business objective is to focus on accelerating international trade cooperation in tin concentrates and non-ferrous metals. It actively explores new beneficiation technologies and processes, and efficiently develops other resources such as copper, lead, tungsten, iron, and zinc. The company's management philosophy adheres to a people-oriented approach and integrity first. Market-oriented and centered on economic benefits, it strives to improve management and operational levels, promote sustainable and healthy development, and effectively safeguard the interests of the company, employees, and shareholders. Relying on long-term accumulated experience and persistent dedication, the company team rigorously manages the enterprise, striving to become an international first-class large-scale non-ferrous metal processing and trading enterprise group. Contact Information Li Sihao 13808772566 (same WeChat) https://www.yonsenmining.com Long press and scan to register now 2026 SMM (16th) Tin Industry Chain Conference

[SMM Tin Morning Brief: US Fed Rate Meeting in Early Morning, SHFE Tin 2609 Tests 410,000 Support]

“Tin” Guiding the Future: Industrial Transformation and Value Reshaping in a New Cycle Conference Background Currently, the global tin industry stands at a historic turning point. The logic of traditional cycles has been completely shattered, and its strategic value is fully emerging. The tin market in 2026 presents an unprecedentedly complex pattern and profound transformation: 1. In-depth reconstruction of the supply-demand pattern, with its strategic attributes elevated to an unprecedented level. The global static reserve-to-production ratio of tin is only 14 years, and its scarcity is increasingly pronounced. The supply side faces “triple pressure”: repeated setbacks in Myanmar’s production resumptions, continuously tightening policies in Indonesia, and high geopolitical risks in the DRC. Resource constraints have already become the new normal. Meanwhile, a fundamental shift is taking place in the demand structure. Tin has become a strategic resource bridging traditional manufacturing and the digital future. 2. A historic breakthrough in the price system, reshaping the industrial ecosystem. In early 2026, SHFE tin prices breached 470,000 yuan/mt, setting a new record high. This price breakthrough not only reflects the supply-demand imbalance but also marks a revaluation of the tin industry. Traditional trade models, risk management systems, and supply chain collaboration methods all urgently require innovative breakthroughs. 3. Technology-driven innovation and the green transition are fostering a new symbiotic ecosystem. Digital and intelligent technologies are deeply empowering the tin industry chain. The global green transition requires the tin industry to upgrade toward low-carbon and circular economy models, making recycled tin recovery and green smelting processes essential paths. All links in the industry chain must move from competition to collaboration, building an open, resilient, and innovative symbiotic system. Against this backdrop, the August 19-21, 2026 in Changsha, Hunan held 2026 SMM (16th) Tin Industry Chain Conference will bring together global industry elites for discussion. Yunnan Tin Co., Ltd. will attend this grand event, discuss industry development trends with peers, and jointly propel the tin industry to new heights. Click the to register now, and join us to witness and participate in this extraordinary, far-reaching industry event, creating a brilliant new chapter together! Yunnan Tin Co., Ltd. (hereinafter referred to as the Company) was restructured and established in 1998, with its predecessor tracing back to the Gejiu Factory Affairs Investment Bureau, which was founded in 1883 (the ninth year of the Guangxu reign of the Qing Dynasty) with official funds from the imperial court. In February 2000, the Company was listed on the Shenzhen Stock Exchange under the stock name “Tin Industry Co., Ltd.” and stock code 000960. The Company has been ranked on the Fortune China 500 for consecutive years, placing 1st among the 2023 Yunnan High-Tech Enterprises Top 100 and 2nd among the 2023 Yunnan Manufacturing Enterprises Top 100. The Company holds the world’s largest reserves of tin and indium resources, and operates China’s largest tin production and processing base. It has built up a capacity of 80,000 mt/year of tin smelting, 125,000 mt/year of cathode copper, 100,000 mt/year of zinc smelting, and 60 mt/year of indium smelting. Its key equity-holding subsidiary has a capacity of 43,000 mt/year of tin materials and 27,100 mt/year of tin chemicals. Meanwhile, the Company is the only enterprise in China that holds the qualification for processing trade with imported materials for both tin concentrates and copper concentrates, with the right to re-export. Among the Company’s main products, key products such as tin ingots, indium ingots, and deep-processed tin and indium products have unique market and brand advantages. The “YT” brand tin ingots registered on the London Metal Exchange are an internationally renowned brand and a “China Famous Brand” product certified for export quality. The Company has established a marketing and distribution system covering major tin product markets in and outside China, with offices in Chinese cities like Beijing, Shanghai, and Shenzhen as well as in Hong Kong, the US, and Germany. Its products are sold to more than 30 countries worldwide. Tin product sales account for roughly half of the Chinese market and a quarter of the global market. Since 2005, the Company’s tin production and sales volume has ranked first globally. In the future, Yunnan Tin will take the inclusion in the list of “Creating World-class Professional Exemplary Enterprises” released by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) as a major opportunity, deepen the creation work, focus on enhancing core competitiveness and strengthening core functions, further strengthen resource expansion, modern mining, raw material manufacturing, reinforce conservation-oriented development and utilization of resources, promote intelligent mining and intelligent smelting, and strive to become a world-class provider of key non-ferrous metal raw materials featuring distinctive professional advantages, innovation-driven development, lean management, and distinctive characteristics. Yunnan Tin Co., Ltd. was restructured and incorporated in 1998, with its origin tracing back to the Gejiu Mining & Merchants Bureau funded and established by the imperial court in 1883. In February 2000, the Company was listed on the Shenzhen Stock Exchange under the stock short name "Yunnan Tin" and stock code 000960. It has been featured on the Fortune China 500 list for consecutive years, ranking No.1 among Yunnan Top 100 High-tech Enterprises 2023 and No.2 among Yunnan Top 100 Manufacturing Enterprises 2023. The Company holds the world’s largest reserves of tin and indium resources, and operates China’s largest tin production and processing base. Its self-owned production capacities stand at 80,000 tons of tin smelting, 125,000 tons of cathode copper, 100,000 tons of zinc smelting and 60 tons of indium smelting per annum. Key invested subsidiaries boast annual capacities of 43,000 tons of tin materials and 27,100 tons of tin chemicals. Meanwhile, it is the only domestic enterprise qualified for import and re-export processing of both tin and copper concentrates in China. Among the Company’s core products, tin ingots, indium ingots, and deep-processed tin-indium products enjoy distinctive market and brand advantages. The registered "YT" brand tin ingot on the London Metal Exchange (LME) is a world-famous brand and a national "China Top Brand" for export quality. The Company has built a marketing and distribution network covering major domestic tin product markets across Beijing, Shanghai, Shenzhen and other cities, as well as Hong Kong, the United States, Germany and other overseas regions, with products sold to more than 30 countries worldwide. Its tin product sales account for roughly half of China’s total market demand and one quarter of the global market, and the Company has maintained the world’s top position in tin output and sales volume since 2005. Being shortlisted in the State-owned Assets Supervision and Administration Commission’s list of "Enterprises Pioneering the Development of World-Class Professional Leading Companies" as a major strategic opportunity, Yunnan Tin will thoroughly advance related development initiatives. Centering on boosting core competitiveness and reinforcing core functions, the Company will further consolidate resource expansion, modern mine construction and raw material manufacturing businesses. It will strengthen the protective development and utilization of mineral resources, advance smart mining and intelligent smelting, and strive to grow into a world-class supplier of key non-ferrous metal raw materials featuring prominent professional advantages, innovation-driven development, lean management and distinctive industrial characteristics. Contact Information Tin Ingot Product Sales: Luo Huayuan 18516225787 Tin Material Product Sales: Zhang Xuefeng 13577064765 Tin Chemical Product Sales: Lin Jun 18687193400 Tin Raw Material Procurement: Duan Pengfei 13577328782 Long Press to Scan QR Code to Register Now 2026 SMM (16th) Tin Industry Chain Conference

[SMM Tin Morning Brief: Dense Macro Event Window, Low Inventory Support Pattern Unchanged]

[SMM Morning Meeting Summary: Tug-of-War in High Range, Awaiting a Breakout Signal Amid the Tug-of-War Between Sellers and Buyers]

[SMM Tantalum-Niobium News] In July 2026, the Penouta mine in Galicia, Spain, completed the final approval and officially revitalized production, becoming the only primary tantalum-niobium supply base in the European Union. The mine was previously shut down due to operator bankruptcy, and Australian ETM company acquired the mining rights for 5.20 million euros and received a capital increase of tens of millions of Australian dollars. The mine area is equipped with mature infrastructure and a complete beneficiation production line, which is in line with the core goal of reducing dependence and building a local industrial chain under the European Union's key raw material law. The company has finalized its operational plan and is expected to achieve monetization of tantalum, niobium, and tin concentrates in 2027.

[SMM Tin Morning Brief: Demand off-season suppresses, SHFE tin night session weakens testing 410,000 support]

[SMM Tin Morning Brief: SHFE tin saw a slight correction in the night session, downstream users were cautious of high prices and only made small, rigid-demand purchases.]