It's employed for sharpening loose tin fragments (8)
I believe the answer is:
oilstone
'it's employed for sharpening' is the definition.
I can't judge whether this definition defines the answer.
'loose tin fragments' is the wordplay.
'fragments' is an anagram indicator (the fragments are put back together differently).
'loose'+'tin'='loosetin'
'loosetin' with letters rearranged gives 'OILSTONE'.
Can you help me to learn more?
(Other definitions for oilstone that I've seen before include "Block for sharpening chisels, etc" , "that'll give an edge" , "It could sharpen" .)