REG - AfriTin Mining Ltd - Uis Phase 1 Expansion: Construction Completed

Andrada MiningAnnouncement

15/08/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220815:nRSO9385Va&default-theme=true

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
(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                     +44 (0) 20 7907 8500

 Andrew Chubb

 Jay Ashfield

 Nilesh Patel
 Stifel Nicolaus Europe Limited           +44 (0) 20 7710 7600

 Ashton Clanfield

 Callum Stewart
 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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDFLFVATVISLIF