TIDMATM
RNS Number : 4508F
AfriTin Mining Ltd
07 November 2022
7 November 2022
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in
the United Kingdom 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 Commissioning Complete
AfriTin Mining Limited (AIM: ATM), an African technology metals
mining company with a portfolio of mining and exploration assets in
Namibia, is pleased to provide an update of its Phase 1 Expansion
Project at the Uis Mine ("Uis").
Highlights:
-- Commissioning of the Uis Phase 1 Expansion Project complete;
-- Production projected to ramp up from 780 to 1200 tpa of tin
concentrate over the next three months; and
-- The potential by-product production of lithium and tantalum
is expected to benefit from the plant throughput expansion due to
its co-occurrence within the ore.
Anthony Viljoen (CEO) commented:
"We are extremely pleased to announce the completion of
commissioning for our Uis Phase 1 Expansion Project. The
beneficiation plant is performing well, and the production ramp-up
from pre-expansion levels is going according to plan. The potential
production of lithium and tantalum by-products is also expected to
benefit from the expansion of the throughput capacity of the plant,
since these minerals will be extracted from the existing processing
streams.
Our team has once again demonstrated the ability to deliver
value accretive projects. Our development strategy is centred on
driving costs down whilst expanding our mineral resource base,
production volumes and product portfolio of tin, lithium and
tantalum with the concomitant increase in revenue streams. We
remain committed to our goal of becoming a tier-one producer of
technology metals."
Project Overview
The Uis Phase 1 Expansion Project ("the Project") targets an
increase in production at Uis from approximately 780 tonnes per
annum ("tpa") to 1200 tpa tin concentrate (470 tpa and 720 tpa tin
contained in concentrate respectively). 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. The expansion of the dry plant will allow the
operation to increase the feed rate of ore to the plant by
approximately 50%, while the new stockpile provides buffer capacity
before the concentrator ("the wet plant") to increase plant
utilisation. In addition, the Project addresses potential
throughput constraints in the concentrator due to the increased
feed rate, as well as upgrades to the concentrate cleaning circuit
to enhance tin recovery, and upgrades to the process control and
instrumentation to improve plant operability and utilisation.
Plant Commissioning
The Project commenced in September 2021 with the ordering of
long lead items. Project construction was completed in
mid-September 2022 and commissioned one month later. A C4
commissioning certificate has been received from Consulmet, an
independent mineral processing consultancy that acted as
commissioning manager. C4 commissioning refers to the hot
commissioning of processing circuits and involves stages including
feeding ore material into the process plant, validating process
flows and instrumentation readings, and the achievement of
instantaneous design throughput. A C4 certificate indicates that
the entire system is complete and fully operational.
Current daily production has now matched pre-expansion levels,
as planned, and the plant will be ramped up over the next three
months to achieve continuous design throughput.
Uis Development Strategy
The Company is developing its business aspirations in Namibia
through expansion of its mineral resource base, expansion of both
production volume and product portfolio, and a strategic focus on
supplying metals to the technology and renewable energy
sectors.
The Uis Mine is AfriTin's flagship project and underpins its
development strategy. The ore mined at Uis contains additional
commodities in addition to tin, including lithium and tantalum. An
infill exploration programme is currently in progress, aiming to
improve the geological confidence of the present lithium and
tantalum mineral resource estimate.
The existing plant processing circuits extract a high-quality
tin concentrate. The Company has initiated a further expansion of
the current plant to produce a saleable tantalum concentrate. In
addition, successful bench scale tests for the production of a
lithium concentrate will be followed by the construction of a
lithium pilot plant at the mine site.
The increased plant throughput resulting from the Project is
also expected to benefit the ultimate production of lithium and
tantalum by-products, since these minerals are present in the same
ore stream as tin. AfriTin is investigating the suitability of
sensor-based ore sorting which has the potential to further expand
the throughput of ore at Uis by a factor of two to three times.
The Company will provide an update on its Uis development
programme in due course.
* The Company's Financial Year runs from March to February. All
reference to quarters applies to the financial year reporting
period, unless stated otherwise.
AfriTin Mining Limited +27 (11) 268 6555
Anthony Viljoen, CEO
Nominated Adviser +44 (0) 207 220 1666
WH Ireland Limited
Katy Mitchell
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
Emily Moss
Catherine Drummond
Adam Baynes
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining Limited is a London-listed technology metals
mining company with a vision to create a portfolio of globally
significant, conflict-free, producing and exploration 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 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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END
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