Business
First Production of Tin Concentrate
First Production of Tin Concentrate.
About this update from Andrada Mining Limited
[{"type":"text","content":"\n \nRNS Number : 4106J AfriTin Mining Ltd 19 August 2019 \n\n19 August 2019\nAfriTin Mining Limited\n(\"AfriTin\" or the \"Company\")\nFirst Production of Tin Concentrate at the Uis Tin Mine\n&\nOfftake Agreement\nAfriTin Mining Limited (AIM: ATM), a tin mining company with assets in Namibia and South Africa, is delighted to announce production of its first tin concentrate production at its flagship Uis Tin Mine in Namibia. Furthermore, the Company has entered into an offtake agreement with Thailand Smelting and Refining Co., Limited (\"Thaisarco\").\nTin production comes soon after the Company announced the completion of the Phase 1 Pilot Plant on 26 July 2019 and that hot and cold commissioning were nearing completion ahead of production ramp-up (see the Company's announcement on 31 July 2019). The Company will now focus on ramping up the plant to its design capacity of 500,000 tonnes of ore per annum, which will produce approximately 60 tonnes of tin concentrate per month by the end of Q4 2019. \nThe Uis Tin Mine, once home to the largest conflict-free hard-rock tin mine in the world, was discovered in 1911 with mining commencing in 1950. As a result of unfavorable market conditions at the time, the mine went into care and maintenance and was then closed. This tin concentrate is the first produced since the closure of the mine and is an important milestone for the Company as well as having a significantly positive impact on the community of Uis. \nRecent pictures of the Uis Tin Mine are available on the AfriTin website at the following link: http://afritinmining.com/gallery/\n \nThe Company is also pleased to announce that it has concluded an offtake agreement with Thaisarco for tin concentrate produced from the Uis Tin Mine. The 1-year offtake agreement enables AfriTin to sell its tin concentrate and secure revenue for the next 12 months with an option to extend the contract. The offtake agreement specifies pre-agreed concentrate deliverables which are in line with the project ramp-up and design specification of the plant.\nThe salient terms of the offtake agreement are as follows:\n· Concentrate produced during the period of the offtake is to be shipped to Thaisarco in Phuket, Thailand FOB from the port of Walvis Bay;\n· Thaisarco shall pay AfriTin ...