TIDMATM
RNS Number : 9385V
AfriTin Mining Ltd
15 August 2022
15 August 2022
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 (MAR) as in force in
the United Kingdom and pursuant to the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service (RIS), this inside information is now
considered to be in the public domain.
AfriTin Mining Limited
("AfriTin" or the "Company")
Uis Phase 1 Expansion: Construction Completed
AfriTin Mining Limited (AIM: ATM), an African technology-metals
mining company with a portfolio of mining and exploration assets in
Namibia, announces a project update on the expansion of the
processing plant at the Company's flagship polymetallic asset, the
Uis Mine ("Uis").
Highlights:
-- Construction for the Phase 1 Expansion completed;
-- Commissioning scheduled to be complete by the end of September 2022;
-- Production to increase by 67% (up to 1,200 tonnes of tin concentrate per annum);
-- Lithium and tantalum by-product pilot facilities progress to
detailed engineering phase; and
-- REMINDER: Webinar: Unlocking AfriTin's Lithium Opportunity - 18 August 2022 10:00am BST.
Anthony Viljoen (CEO) commented:
"The AfriTin team has demonstrated remarkable resilience in
completing the construction milestone for the Uis Phase 1 Expansion
Project despite challenging market conditions and a difficult
construction environment. We are extremely pleased with the
progress and look forward to completing the production ramp-up.
We aim to achieve a significant increase in revenue and
reduction in unit cost through this expansion. In addition, the
expanded operation will provide an excellent platform for
implementing our lithium and tantalum by-product strategies.
Through our aggressive development programme, we plan to
demonstrate the superior quality and scale of the Uis polymetallic
deposit."
Project Overview
The Uis Phase 1 Expansion Project ("the Project") is targeting
an increase tin concentrate production of up to 67%, (from 720
tonnes per annum to up to 1,200 tonnes per annum). The Project
scope consists of a modular expansion of the current processing
plant, leveraging existing bulk infrastructure services.
Specifically, it involves the expansion of the crushing and
screening circuits ("the dry plant") and construction of a fines
ore stockpile prior to the concentrator. In addition, the Project
addresses potential throughput constraints in the concentrator
("the wet plant") that could have resulted from the increased feed
rate, as well as upgrades to the concentrate cleaning circuit to
enhance tin recovery.
Construction and Commissioning Progress
Construction of the plant expansion circuits is now complete,
allowing the Project to advance to the commissioning stage.
Commissioning of the new circuits is being implemented in two
stages: firstly, the commissioning of the dry plant which has
commenced and will be completed by end of August 2022, and secondly
the commissioning of the wet plant, which is scheduled for the
month of September 2022.
The commissioning process has been designed to minimise
production disruption. There is a requirement to shutdown certain
plant circuits to facilitate tie-ins with the existing plant but
due to stockpiling and flexibility built into the current circuit,
this is not expected to have a material impact on the production
performance of the Company.
Figure 1 : Plant circuit additions (foreground) and the existing
processing plant (background, right)
Production Ramp-up
The plant expansion is projected to increase the nameplate
capacity from 60 tonnes of tin concentrate per month (720 tonnes
per annum) to up to 100 tonnes per month (up to 1,200 tonnes per
annum). Current output is expected to expand progressively over
four months.
Lithium By-product Development
The Company is planning to produce a lithium and tantalum
by-products integrated with existing tin production facilities and
the development of these potential revenue streams is being
fast-tracked.
As such, an infill drilling programme is underway at the main
V1/V2 pegmatite at Uis, to increase the confidence of the existing
lithium and tantalum resource estimates for the deposit. In
addition, projects to construct lithium and tantalum pilot plants
have progressed to the detailed engineering phase. The Company will
provide an update on this development programme in Q4 2022.
Lithium Webinar
The Company will host a webinar host a webinar presentation
titled "Unlocking AfriTin's Lithium Opportunity" on Thursday, 18th
August 2022 at 10:00am BST. Investors can sign up to Investor Meet
Company for free and add to meet AFRITIN MINING LIMITED via:
https://www.investormeetcompany.com/afritin-mining-limited/register-investor
AfriTin Mining Limited +27 (11) 268 6555
Anthony Viljoen, CEO
Nominated Adviser +44 (0) 207 220 1666
WH Ireland Limited
Katy Mitchell/Andrew de Andrade
Corporate Advisor and Joint Broker
H&P Advisory Limited
Andrew Chubb
Jay Ashfield
Nilesh Patel +44 (0) 20 7907 8500
Stifel Nicolaus Europe Limited
Ashton Clanfield
Callum Stewart +44 (0) 20 7710 7600
Tavistock Financial PR (United
Kingdom) +44 (0) 207 920 3150
Jos Simson
Emily Moss
Cath Drummond
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining Limited is a London-listed tech-metals mining
company with a vision to create a portfolio of globally
significant, conflict-free, producing assets. The Company's
flagship asset is the Uis Tin Mine in Namibia, formerly the world's
largest hard-rock open cast tin mine.
AfriTin is managed by an experienced board of directors and
management team with a current strategy to ramp-up production at
the Uis Tin Mine in Namibia to more than 10,000 tonnes of tin
concentrate and 350,000 tonnes of lithium concentrate in a Phase 2
expansion, having reached Phase 1 commercial production in 2020.
The Company strives to capitalise on the solid supply/demand
fundamentals of tin and lithium by developing a critical mass of
resource inventory, achieving production in the near term and
further scaling production by consolidating assets in Africa.
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