Andrada Mining Reports Significant Production Increase in Namibia Operations
Andrada Mining, a company with mining and exploration assets in Namibia, has announced a remarkable 60% year-on-year increase in ore processed for the financial year ended February 29, reaching 915,599 metric tons.
The Uis mine, a key asset of Andrada Mining, witnessed a notable surge in tin concentrate production, up by 54% to 1,474 metric tons, with contained tin production also rising by 51% to 885 metric tons.
During this period, plant availability at the Uis mine improved to 91%, compared to 87% in the previous financial year. Additionally, the company successfully produced 5 metric tons of saleable tantalum concentrate and 40 metric tons of saleable lithium concentrate.
Maintaining financial discipline, Andrada Mining reported that its average C1 operating cash cost of $17,640 and average C2 operating cash cost of $20,173 remained within guidance.
Anthony Viljoen, CEO of Andrada Mining, expressed satisfaction with the operational progress, attributing the success to strategic initiatives.
Viljoen highlighted the company’s focus on enhancing production tonnage and acknowledged the challenges posed by a higher stripping ratio.
However, he remains optimistic about the orebody’s grade and diversity of minerals, including lithium, which positions the operations favorably to benefit from potential rebounds in commodity markets.
Furthermore, Andrada Mining disclosed that it has received indicative, nonbinding offers for a partnership interest at the project level.
Discussions with potential partners are reportedly advancing positively, indicating potential future collaborations to enhance the company’s operational and strategic objectives.
