Business
SAXORE XTRACT
First Tin PLC's German subsidiary, SAXORE Bergbau GmbH, will participate in an EU-funded XTRACT consortium project focused on extracting indium directly from ore using bioleaching. The total budget for the XTRACT consortium is approximately €5 million, with about €0.2 million allocated to SAXORE's German pilot site. SAXORE has an agreement with the Zinnkammern Pöhla e.V. visitor mine for project implementation, with approval from Wismut GmbH for joint use. The project aims to demonstrate indium extraction without damage or residue. SAXORE holds a mining license until June 30, 2070, for the "Rittersgrün" field, containing the Tellerhäuser tin project, which includes over 700 tonnes of indicated and inferred indium metal. Disclaimer*
About this update from First Tin Plc
[{"type":"text","content":"\n\n\n \n \n25 September 2025\nFirst Tin PLC\n(\"First Tin\" or \"the Company\")\nSAXORE XTRACT\n \nSAXORE Bergbau GmbH, a wholly owned German subsidiary of First Tin plc, listed in London and Frankfurt, will participate in an EU-funded XTRACT consortium project to demonstrate that indium can be extracted directly from the ore body using bioleaching. The XTRACT consortium consists of 14 research and development partners with a total budget of approximately €5 million, of which ca., €0.2 million is allocated to the German pilot site of SAXORE Bergbau GmbH.\n \nSAXORE Bergbau GmbH (Saxore) has signed an agreement with the operator of the Zinnkammern Pöhla e.V. visitor mine to cooperate on the implementation of the research project. The owner of the Pöhla mine, the state-owned Wismut GmbH, has also given its approval for the joint use project. The popular visitor mine, which boasts the largest tin chambers in Europe, provides researchers from the TU Bergakademie Freiberg and project partners with safe access to the deposit. Work can begin underground as soon as approval has been granted by the Saxony Mining Authority.\n \nThe core objective of this 100% EU-funded project is to demonstrate that indium can be extracted directly from the ore body using bioleaching without causing damage or leaving any residue.\n \nSaxore holds a Mining License valid until 30th June 2070 for the extraction of mineral resources from the \"Rittersgrün\" field, which contains the polymetallic Tellerhäuser tin project, the largest undeveloped tin resource in the OECD and one of the most advanced tin projects in Europe. Tellerhäuser's updated Mineral Resource Estimate (MRE), published in 2024, includes over 700 tonnes of indicated and inferred indium metal, making it one of the world's largest indium resources.\n \nMost indium is used in indium tin oxide (ITO). ITO thin film coatings are primarily used for electrically conductive purposes in flat panel liquid crystal displays. Other uses include in alloys and solders, electrical components and semi-conductors.\n \nSaxore Bergbau GmbH Managing Director, Matthias Faust commented:\n \n\"The support of the EU for the XTRACT project underlies the importance of finding new, sustainable extraction techniques to access such critical minerals as Indium. We loo...