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AfriTin continues ramp-up at Uis Tin Mine
12th Nov 2020 12:19
(Sharecast News) - Namibia-focussed tin mining company AfriTin Mining updated the market on its operations at the Uis Tin Mine for October on Thursday, reporting that the first stage ramp-up of phase 1 was continuing, with production of tin concentrate increasing to 48.2 tonnes for the month, representing a 24% month-on-month increase.
The AIM-traded firm said it remained on track to achieve nameplate production of 60 tonnes of tin concentrate per month by the end of 2020.
It also said that no confirmed cases of Covid-19 cases had been recorded at Uis to date, as strict coronavirus mitigation measures remained in place to safeguard the workforce.
"I am delighted to report, once again, further positive increases in the Uis Tin Mine's month-on-month plant performance as we enter the final stage of our phase 1 stage one production ramp-up," said chief executive officer Anthony Viljoen.
"This means we remain on track to achieve nameplate production of 60 tonnes a month of tin concentrate by the end of the calendar year."
Viljoen said that, once nameplate capacity was realised, the firm would progress towards stage two, expanding its production levels even further.
"AfriTin continues to remain well-positioned to take advantage of the improving tin market fundamentals, as it looks to achieve its vision of becoming a large-scale tin producer in Namibia."
At 1152 GMT, shares in AfriTin Mining were up 7.95% at 2.38p.
The AIM-traded firm said it remained on track to achieve nameplate production of 60 tonnes of tin concentrate per month by the end of 2020.
It also said that no confirmed cases of Covid-19 cases had been recorded at Uis to date, as strict coronavirus mitigation measures remained in place to safeguard the workforce.
"I am delighted to report, once again, further positive increases in the Uis Tin Mine's month-on-month plant performance as we enter the final stage of our phase 1 stage one production ramp-up," said chief executive officer Anthony Viljoen.
"This means we remain on track to achieve nameplate production of 60 tonnes a month of tin concentrate by the end of the calendar year."
Viljoen said that, once nameplate capacity was realised, the firm would progress towards stage two, expanding its production levels even further.
"AfriTin continues to remain well-positioned to take advantage of the improving tin market fundamentals, as it looks to achieve its vision of becoming a large-scale tin producer in Namibia."
At 1152 GMT, shares in AfriTin Mining were up 7.95% at 2.38p.