Business
Production and Strategic Process Update
Production and Strategic Process Update.
About this update from Andrada Mining Limited
[{"type":"text","content":"\n\n12 March 2024 \n \n \nAndrada Mining Limited\n(\"Andrada\" or the \"Company\")\nTin, Tantalum and Lithium Production Update\nStrategic Process Update\n \nAndrada Mining Limited (AIM: ATM, OTCQB: ATMTF), the African technology metals mining company with a portfolio of mining and exploration assets in Namibia, is pleased to provide an update on the expansion plans for lithium, tin, and tantalum production at the flagship Uis Mine together with an update on the Strategic Process. \nHIGHLIGHTS\nTin Production Expansion\n§ Implementation of an ore sorting circuit underway to increase tin concentrate from 1 500 to 2 600 tpa.\n§ Procurement of Metso crushing equipment and Tomra ore sorters.\n§ Ore sorting is fully funded by the Orion Resource Partners facility.\n§ Ore sorting augments the Continuous Improvement II programme (\"CI2\") which is fully funded by the Development Bank of Namibia (\"DBN\").\n§ Expansion is anticipated to increase revenue by up to 75% and continue to reduce the AISC of the mining operations.\nTantalum Production\n§ Optimisation of the tantalum circuit has been completed.\n§ The first shipment of concentrate to Afrimet Resources (\"Afrimet\") targeted for March 2024.\n§ Annual production estimated to be approximately 48 tonnes per annum (\"tpa\") at current run rate and expected to increase to 83 tpa after the implementation of the ore sorting circuit.\n§ Tantalum revenue is estimated to be between 3% and 5% of total group revenue at steady state production, with more than 90% of the tantalum revenue captured in the mine EBITDA.\nLithium Production\n§ The lithium pilot plant has consistently produced technical grade petalite concentrate since the fourth quarter of 2023 (\"Q4 2023\").\n§ The concentrate stockpile is currently accumulating.\n- Initial prospective sales are focussed on the specialty glass and ceramics market that is quoted as a premium to the battery market currently.\n- Further development test work for supplying the lithium battery market is also ongoing.\n§ The Company has commenced studies to integrate the entire lithium circuit into the current operations.\n§ Preliminary modelling indicates an initial production of 30 000 tpa (from 1.7 million tonnes per annum (\"mtpa\") Run-Of-Mine (\"RoM\")) of technical grade pet...