AfriTin Mining closes £4.5mln funding facility to expand Namibia processing plant
“This marks the start of a long-term financing partnership to continue the rapid development of the Uis tin mine
Company
LON:ATM
Andrada Mining Ltd is a London-listed technology metals mining company with a vision to create a portfolio of globally significant, conflict-free, producing and exploration assets. The company's flagship asset is the Uis Mine in Namibia, formerly the world's largest hard-rock open cast tin mine.
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“This marks the start of a long-term financing partnership to continue the rapid development of the Uis tin mine
“Implementation of these by-product streams could substantially transform the overall economics and unit cost of production for the current Phase 1 facility,” said chief executive Anthony Viljoen
Uis was formerly the world's largest hard-rock open cast tin mine
AfriTin has already established an excellent track record in getting production at Uis re-started
The new website features an updated corporate presentation and corporate video
AfriTin is building a track record of production at Uis and is now embarking on expansion
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The company's flagship asset is the Uis tin mine in Namibia, formerly the world's largest hard-rock open cast tin mine
AfriTin is building a strong track record of tin production in Namibia
AfriTin has already built up a strong track record of tin production at Uis
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The company plans to increase production to 120 tonnes of concentrate per month
Tin is used extensively in the manufacture of vehicles
AfrrTin is building up a strong track record of production at Uis
The firm said it has raised £13mln in an oversubscribed share placing initially announced after the close on Tuesday
The expansion would result in a 67% increase in tin concentrate production to 1,200 tonnes per annum
AfriTin is building up a strong track record of production at the Uis mine
AfriTin is now building a track record of production at Uis, after a successful re-start
Tin production at Uis reached design capabilities before the end of last year
AfriTin Mining Limited is developing the Uis tin project in north-west Namibia
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A total of 41.6 tonnes of tin was produced in 63.9 tonnes of concentrate in November
The firm reported that production of tin concentrate at the Namibian mine in October has increased 24% month-on-month to 48.2 tonnes containing around 32.2 tonnes on tin metal
Uis is a former producing project that is well-known in Namibia
The resource base that supports production at Uis was recently expanded
The company also said it has completed modifications to address bottlenecks in the fines dewatering circuit of the project’s processing plant, which it expects to increase throughput from September
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In the 12 months to February 29, revenue advanced to £69,032 from £26,782 the year before
"Despite operational challenges related to COVID-19 and the production ramp-up during the first half of 2020, the performance of our Uis operation is displaying improvement," said chief executive Anthony Viljoen
Mining operations at Uis resumed in June following the easing of coronavirus (COVID-19) lockdown measures in Namibia.
With production ramping up to nameplate capacity for phase one, a phase two expansion programme is now being contemplated
Rigorous safety measures have been implemented at Uis to combat the threat of coronavirus
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AfriTin recently brought the Uis tin mine back into production
AfriTin has recently restarted mining operations at Uis
The initial shipment amounted to six tonnes grading more than 60% tin
AfriTin is now ramping up production at the historic mine, hoping to soon treat 500,000 tonnes of ore each year
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First tin concentrate should be shipped from the Uis mine this month with production to rise to 60 tonnes per month early in the New Year.
On a JORC basis, there is 95,539 tonnes of contained tin at Uis
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AfriTin is bringing an old producing mine back to life after a thirty year gap
Hardware & electrical equipment
"This facility will enable the technical team to focus on a successful ramp-up in order to achieve the design capacity of the Phase 1 Pilot Plant"
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AfiTin said it marks a "momentous milestone" for the company
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AfriTIn is now nearing the completion of the pilot plant at Uis
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Anthony Viljoen, CEO of AfriTin, highlighted that "notable grades" from ancillary elements could provide multiple revenue streams for the project in Namibia
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AfriTin is developing Uis into what chief executive Anthony Viljoen believes is a world-class project
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Former parent Bushveld Minerals has also agreed to provide a short-term loan to further boost its cash position.
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The grid supply will be significantly more cost-effective than the diesel-generators currently on site
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The company is aiming to scale-up production at Uis, once one of the world's leading tin mines, after a hiatus of more than 20 years
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Drilling is expected to continue through to the fist quarter of 2019 and comprise 3950m distributed over 27 holes
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Construction of the processing plant has started with the phase 1 pilot operation to handle 500,000 tonnes of ore a year
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The period should see the construction of the pilot plant and a JORC-compliant resource produced