Andrada increases tin production
Aim-listed Andrada Mining, with a portfolio of mining and exploration assets in Namibia, achieved a 60% year-on-year increase in ore processed to 915 599 t for the financial year ended February 29.
Tin concentrate production from the Uis mine increased by 54% year-on-year to 1 474 t and contained tin production by 51% year-on-year to 885 t.
Plant availability increased to 91% in the period, from 87% in the prior financial year.
The company also produced 5 t of saleable tantalum concentrate and 40 t saleable lithium concentrate at the Uis mine.
The company’s average C1 operating cash cost of $17 640 was within guidance, as was the average C2 operating cash cost of $20 173.
“It pleases me that the strategic operational initiatives that we embarked on have been successful and yielded the further double-digit percentage increases in production tonnage at our operations that we are presenting today.
“Although a higher stripping ratio resulted in an increase in the all-in sustaining costs during the year, the exposure of the orebody's grade, diversity of minerals including lithium, and scale at depth according to our geological model, will start to become glaringly apparent placing the operations in a robust position to capitalise on the rebound in the commodities markets for all our products,” says CEO Anthony Viljoen.
Andrada says it received indicative, nonbinding offers for a partnership interest at the project level, and that discussions with potential partners are progressing well.
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