Andrada mine completes sampling plant

Lithium and tin mining junior Andrada Mining has secured enough funds to run operations for the next 18 months, thanks to N$181 million raise through loan notes.

Complemented by N$100 million from the Development Bank of Namibia (DBN) and other funds from a fund managed by Orion Resource Partners, the Uis-based company says this will be sufficient until January 2025.

The raise of N$181 million will be spent on the mine’s ongoing capital expansion project.

Not only did the Namibian Stock Exchange listed company raise the funds, but it has also completed the construction phase of the lithium bulk sampling facility and a tantalum production circuit.

“The completion of the construction phase of the lithium bulk sampling facility is an important milestone for Andrada, as it allows the company to advance its exciting lithium expansion programme,” says Anthony Viljoen, the chief executive.

He says: “The proceeds are to be used for ongoing capital expansion programmes related to the lithium and tantalum development. In addition, the funds will be used for working capital purposes as Andrada progresses with its exploration programme, and commences a lithium feasibility study to further consolidate its competitive lithium advantage within the Erongo region.”

The chief executive of the Chamber of Mines of Namibia, Veston Malango, says the completion of the facility comes at such an opportune time when the government has restricted the export of lithium ore in favour of local beneficiation.

“Recently, the company briefed me on this achievement, and since we now have the capacity locally, we have decided that the facility should be made available to all local miners for testing needs to identify the composition of the minerals or deposits they have mined. This will also help them set value,” he says.

The Namibia University of Science and Technology has been invited to use the facility for laboratory testing and to improve local upskilling, according to Malango.

Additionally, the chamber advises the Ministry of Mines and Energy to include funding for a portable testing facility which could serve small-scale miners.
– email: bottomline@namibian.com.na