Andrada Mining Advances Namibia Expansion with New Funding and Strong Lithium Drill Results
Andrada Mining Secures Namibia Funding for Uis Expansion as Lithium Ridge Drilling Delivers High-Grade Results
Aim-listed Andrada Mining has secured conditional strategic funding of N$98 million (approximately £4.4 million) to support expansion and operational upgrades at its Uis tin mine in Namibia, while also reporting encouraging drilling results from its Lithium Ridge project.
The funding package will be provided through 10-year loan facilities arranged by Namibian institutions Bank Windhoek and Development Bank of Namibia.
The financing, allocated to Andrada subsidiary Uis Tin Mining Company (UTMC), consists of two equal tranches of approximately N$49 million each.
According to the company, the debt facilities complement the $11 million equity raise completed in April and will help fully fund planned growth initiatives at the Uis mine.
Uis Mine Expansion Plans
The combined funding will support several operational improvements aimed at increasing concentrate production at the Uis mine, including the integration of ore-sorting technology, additional crushing capacity, accelerated stripping activities, and updated mineral resource and reserve estimates.
Andrada CEO Anthony Viljoen said the financing reflects growing local support within Namibia for large-scale mining and critical minerals development projects.
He added that the funding structure allows the company to complete its planned ore-sorting circuit and pursue production growth at the Uis operation without additional shareholder dilution.
Lithium Ridge Drilling Programme Expanded
Separately, Andrada announced the successful completion of an expanded diamond drilling programme at its Lithium Ridge project in Namibia, which is being developed in partnership with Sociedad Química y Minera de Chile (SQM) through SQM Australia.
The drilling programme was increased by approximately 18% from the original 14,500-metre target to around 16,500 metres across 143 drill holes.
The company said the expanded campaign was designed to further define the scale, continuity, and geometry of the project’s mineralised pegmatite system.
Initial assay results from 22 drill holes representing about 15% of the programme have confirmed high-grade lithium mineralisation from surface to depth, including intersections of up to 3.02% lithium oxide (Li₂O) over five metres.
Andrada also reported the presence of associated tin and tantalum mineralisation within the pegmatites, which the company says could provide additional polymetallic development opportunities.
Further Results Expected
Although drilling activities have now concluded, geological teams continue to process drill core samples through logging, sampling, and laboratory analysis.
With approximately 85% of assay results still pending, the company expects a steady flow of exploration updates in the coming months.
The incoming data will contribute to an updated geological model intended to support future resource estimation and guide the next phase of exploration and project development.
Andrada said the scale potential of the pegmatite system, combined with the early high-grade lithium results and the involvement of SQM, positions Lithium Ridge as a significant emerging lithium exploration project in Southern Africa.
Viljoen said the decision to extend the drilling programme was driven by the consistency and quality of mineralisation encountered during exploration activities.
He added that the partnership with SQM provides additional technical expertise and commercial credibility as the project advances toward further evaluation and development.
