AfriTin completes commissioning of first phase of Uis expansion

7th Nov 2022 13:25

(Sharecast News) - Namibia-focussed metals company AfriTin Mining updated the market on the first phase expansion project at the Uis Mine on Monday, with commissioning of the project now complete.

The AIM-traded firm said production was projected to ramp-up to 1,200 tonnes of tin concentrate per annum over the next three months, from 780 tonnes.

It said the potential by-product production of lithium and tantalum was expected to benefit from the plant throughput expansion, meanwhile, due to its co-occurrence within the ore.

"The beneficiation plant is performing well, and the production ramp-up from pre-expansion levels is going according to plan," said chief executive officer Anthony Viljoen.

"The potential production of lithium and tantalum by-products is also expected to benefit from the expansion of the throughput capacity of the plant, since these minerals will be extracted from the existing processing streams."

Viljoen said the company's team had demonstrated its ability to deliver value-accretive projects.

"Our development strategy is centred on driving costs down whilst expanding our mineral resource base, production volumes and product portfolio of tin, lithium and tantalum with the concomitant increase in revenue streams.

"We remain committed to our goal of becoming a tier-one producer of technology metals."

At 1102 GMT, shares in AfriTin Mining were up 5.25% at 4.21p.

Reporting by Josh White for Sharecast.com.