TIDMATM
RNS Number : 1259D
AfriTin Mining Ltd
26 October 2020
26 October 2020
AfriTin Mining Limited
("AfriTin" or the "Company")
Operational Update
AfriTin Mining Limited (AIM: ATM), an African tin mining company
with its flagship asset, the Uis Tin Mine ("Uis") in Namibia, is
pleased to provide an operational update.
Highlights:
-- Phase 1 ramp up continues, with production of tin concentrate
for September 2020 increasing to 39 tonnes;
-- The Company remains on track to achieve nameplate production
of 60 tonnes a month of tin concentrate by the end of 2020;
-- Work is progressing on the Stage II expansion study for the
increased production of the Phase 1 Pilot Plant, which shall
include the extraction of tantalum as a by-product; and
-- Strict COVID-19 mitigation measures remain in place to
safeguard the workforce and, to date, no confirmed cases have been
reported at the Uis Tin Mine.
AfriTin is continuing with the production ramp-up of its pilot
mining and processing facility and achieved 39 tonnes of tin
concentrate, containing 27.5 tonnes of tin metal, during September
2020. For Stage I of Phase 1, the Company is targeting the
processing of 45,000 tonnes of ore per month, for the production of
60 tonnes of tin concentrate containing 36 tonnes of tin metal per
month. The current production level represents approximately 75% of
the Stage I target on the basis of tin contained in concentrate.
The monthly production performance for 2020 is tabulated below. Tin
concentrate production for the year to date totals 189 tonnes.
Table 1 : Monthly performance from the Uis Phase 1 pilot plant
during 2020.
2020
Jan Feb Mar Apr May Jun Jul Aug Sep
Description Units *
------ ------ ------ ----- ------ ------ ------ ------ ------
Plant Availability % 59% 60% 64% 59% 65% 69% 73% 72% 74%
------ ------ ------ ------ ----- ------ ------ ------ ------ ------
Plant Utilisation % 58% 66% 68% 54% 70% 76% 88% 81% 75%
------ ------ ------ ------ ----- ------ ------ ------ ------ ------
tonnes
Plant Processing per
Rate hour 45 51 52 41 48 49 65 70 69
------ ------ ------ ------ ----- ------ ------ ------ ------ ------
Ore Processed tonnes 11,420 14,043 16,866 9,618 16,217 18,551 31,324 30,872 30,831
------ ------ ------ ------ ----- ------ ------ ------ ------ ------
Tin Concentrate tonnes 11.4 11.0 12.3 11.1 11.2 19.7 35.3 37.5 39.0
------ ------ ------ ------ ----- ------ ------ ------ ------ ------
Tin Contained
in Concentrate tonnes 7.4 7.1 8.4 7.7 7.2 12.6 22.7 25.6 27.5
------ ------ ------ ------ ----- ------ ------ ------ ------ ------
* Operations curtailed due to COVID-19 government lockdown
regulations
Upon achieving steady state production of the Phase 1 pilot
plant, the Company intends to enhance the profitability of the
plant by increasing the production capacity of the Phase 1
processing plant beyond the current Stage I, in three further
stages as detailed previously (RNS 16 June 2020). AfriTin is
progressing study work towards the Stage II expansion of the
current processing facility.
The production of a tantalum concentrate as a by-product was
originally planned for the Stage I operation, but further
metallurgical test work has been commissioned to increase the
confidence level related to optimum liberation of tantalum-bearing
minerals and magnetic separation parameters. Following encouraging
results from the initial test phases, a final phase of definitive
test work is currently underway.
The health, safety, and well-being of AfriTin's employees,
contractors and the local community are of utmost importance to the
Company. As previously announced, strict COVID-19 mitigation
measures remain implemented across the Company and all necessary
steps have been taken to safeguard the workforce . The Company is
pleased to report that there are still no confirmed cases of
COVID-19 at the Uis Tin Mine.
Anthony Viljoen, CEO of AfriTin Mining Limited commented:
"As we enter the final phase of our plant production ramp-up by
the end of 2020, we are encouraged by the steady increase in plant
performance at our flagship operation, the Uis Tin Mine.
"Once we achieve the nameplate capacity planned for the year, it
will provide us with a platform for expanding tin production
towards Stage II and the exciting addition of a tantalum
by-product. Coupled with an improving tin market, we are
well-positioned to progress towards our long-term goal of a
large-scale tin processing facility in Namibia."
For further information, please visit www.afritinmining.com or
contact:
AfriTin Mining Limited
Anthony Viljoen, CEO +27 (11) 268 6555
Nominated Adviser
WH Ireland Limited
Katy Mitchell
James Sinclair-Ford +44 (0) 207 220 1666
Corporate Advisor and Joint Broker
Hannam & Partners
Andrew Chubb
Jay Ashfield
Nilesh Patel +44 (0) 20 7907 8500
Joint Broker
Turner Pope Investments
Andy Thacker +44 (0) 203 657 0050
Financial PR (United Kingdom)
Tavistock +44 (0) 207 920 3150
Jos Simson
Barney Hayward
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining Limited is the first pure tin company listed in
London and its vision is to create a portfolio of globally
significant, conflict-free, tin-producing assets. The Company's
flagship asset is the Uis Tin Mine in Namibia, formerly the world's
largest hard-rock opencast tin mine.
AfriTin is managed by an experienced board of directors and
management team with a current two-fold strategy: fast-track Uis
Tin Mine in Namibia to commercial production as Phase 1, ramping up
to 5,000 tonnes of concentrate in a Phase 2 expansion. The Company
strives to capitalise on the solid supply/demand fundamentals of
tin by developing a critical mass of tin resource inventory,
achieving production in the near term and further scaling
production by consolidating tin assets in Africa.
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