AfriTin Mining Ltd (LON:ATM)

AfriTin Mining Ltd (LON:ATM)


Share Price
3.20 p
Change
0.09 (2.89 %)
Market Cap
£17.43 m
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AfriTin Mining Ltd RNS Release

First Blast at Uis Tin Mine and Site Visit


RNS Number : 5594J
AfriTin Mining Ltd
06 December 2018
 

6 December 2018

AfriTin Mining Limited

("AfriTin" or the "Company")

First Blast at Uis Tin Mine and Site Visit

AfriTin Mining Limited (AIM: ATM), a mining company with a portfolio of near production tin assets in Namibia and South Africa, with the flagship asset being the Uis Tin Mine in Namibia ("Uis Mine"), is pleased to announce the large-scale blast and first ore at the Uis mine as part of the Phase 1 pilot production.

Highlights

·     Large scale blast and first ore at the Uis Tin mine, Namibia;

·     Commencement of ore preparation and stockpiling in anticipation of the completion of the Phase 1 pilot plant;

·     Running the first campaign through the comminution circuit and crushing of ore; and,

·     Site establishment ceremony, hosting the Honourable Tom Alweendo, Minister of Mines and Energy as well as investors and analysts.

 

Following the start of the civil construction works in June 2018, the Company has been preparing and rehabilitating the Uis Mine site for the commencement of Phase 1 Pilot plant commissioning and production of tin concentrate.

The Company is pleased to announce the first large scale blast of ore and commencement of ore preparation and stockpiling in anticipation of the completion of the Phase 1 processing pilot plant. Activities include, running the first ore through the front-end comminution and crushing circuit. In tandem with production activities, ongoing drilling to make the historic resource JORC compliant, continues on schedule.

Uis is formerly the world's largest hard-rock tin mine. AfriTin's Phase 1 pilot processing plant is designed to process approximately 500,000 tonnes per annum producing approximately 60 tonnes of tin concentrate per month as part of Phase 1. Phase 2 will comprise a planned operation of a 3 million tonne per annum processing facility, producing approximately 5,000 tonnes per annum of tin concentrate.

Site visit ceremony

To mark the first blast at the Uis Tine Mine, AfriTin was pleased to host a ceremony at site with the Honourable Tom Alweendo, Minister of Mines and Energy as well as other Government officials, investors and analysts.

An operational video, presenting the first blast of ore at Uis, will be available on the AfriTin website in the coming days.

 

The Honourable Tom Alweendo, Minister of Mines and Energy said, "The Uis Tin Mine operated for over four decades and put Namibia on the global stage for tin production and created significant economic benefits to the Kunana region. It gives me great pleasure to see the work that AfriTin has undertaken and this momentous occasion of seeing tin production returning to Uis. We look forward to future increase to full production."

Commenting on the developments CEO Anthony Viljoen stated, "We are pleased to announce the first blasting of ore at our flagship Uis Mine.

This marks the first blasting of ore since the mine closed down in 1991. We are very excited to start stockpiling ore and begin the production activities of Phase 1 in anticipation of the Pilot Processing Plant being completed. Our vision of bringing this iconic mine back into production and generating revenues has taken a big step forward today.

My thanks to the significant support shown by the Minister of Mines and Energy and his team, our local partners and communities which have provided the framework and planning to get us here. We look forward to providing further updates as commissioning progresses."

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

 

For further information, please visit www.afritinmining.com or contact:

 

AfriTin Limited

 

Anthony Viljoen, CEO

+27 (11) 268 6555

Nominated Adviser and Joint Broker

 

WH Ireland Limited

Katy Mitchell

James Sinclair-Ford

+44 (0) 207 220 1666 

Joint Broker

 

NOVUM Securities Limited

Jon Belliss

+44 (0)20 7399 9400

Financial PR (United Kingdom)

 

Tavistock

+44 (0) 207 920 3150

Jos Simson

Barney Hayward

 

 

About AfriTin Mining Limited

Notes to Editors

AfriTin Mining is the first pure tin company listed in London and its vision is to create a portfolio of world-class, conflict-free, tin producing assets. The Company's flagship asset is the Uis brownfield tin mine in Namibia, formerly the world's largest hard-rock tin mine.

AfriTin is managed by an experienced board of directors and management team with a current two-fold strategy: fast track Uis brownfield tin mine in Namibia to commercial production in 2018 ramping up to 5,000 tonnes of concentrate, and consolidation of other quality African tin assets. 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.

 


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 [email protected] or visit www.rns.com.
 
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