AfriTin Mining Completes First Phase of Namibia Tin Mine Construction
AfriTin Mining Ltd. said Monday that it has completed the construction phase one of its flagship Uis tin mine in Namibia, and that commissioning is expected to be completed by the end of September.
The AIM-listed miner said the plant’s expansion is expected to increase capacity by 67% to up to 100 metric tons a month of tin concentrate from the current 60 metric tons a month, and that output is expected to expand progressively over four months.
The company also said it plans to produce lithium and tantalum byproducts integrated within existing tin-production facilities, and that it is fast-tracking their development.
“We aim to achieve a significant increase in revenue and reduction in unit cost through this expansion. In addition, the expanded operation will provide an excellent platform for implementing our lithium and tantalum byproduct strategies,” Chief Executive Anthony Viljoen said.
Shares at 0731 GMT were up 0.26 pence, or 5%, at 5.50 pence.