2023-08-21 14:12:00
(Ecofin Agency) – Andrada Mining operates tin at the Namibian mine of Uis. Apart from its stanniferous riches, the project also hosts lithium and tantalum in commercially exploitable quantities. The company is working to realize this potential.
In Namibia, the mining company Andrada Mining might benefit from new financing of 25 million dollars to advance work at its Uis mine. Earlier this month, it reached a binding agreement with Orion Resources Partners, which agrees under several conditions, including an entry into the capital and obtaining a royalty on production, to allocate the funds to it in several tranches.
“The signing of the financing agreement with Orion will provide sufficient capital to complete our expansion programs at our flagship Uis site. Completion of this financing will accelerate our lithium plans, increase our tin production […] », commented the CEO, Anthony Viljoen.
While it already produces tin at the Uis mine (359 tonnes of concentrate produced between March and May 2023), Andrada Mining is also seeking to produce lithium there. According to a strategic plan unveiled in April 2022, the company hopes to achieve this goal within five years. Last July, it announced the commissioning of a lithium bulk sampling pilot plant capable of generating estimated annual revenues of between $5 million and $20 million when peak production levels are reached. The Uis mine also hosts tantalum.
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07/19/2023 – Andrada Commissions Lithium Bulk Sampling Plant in Namibia
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