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Uis Tin Mine Operational Update

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RNS Number : 2797H
AfriTin Mining Ltd
31 July 2019
 

31 July 2019

 

AfriTin Mining Limited

("AfriTin" or the "Company")

Uis Tin Mine Operational Update

AfriTin Mining Limited (AIM: ATM), a tin mining company with assets in Namibia and South Africa, is pleased to provide an operational update relating to the Phase 1 Plant commissioning of its new mining and processing facility at its flagship Uis Tin Mine in Namibia ("Uis").

Highlights:

-      Commissioning of the processing plant in final stage; 

-      First tin concentrate expected in early August; 

-      Four-month ramp up phase commencing this week; 

The Company is pleased to announce construction of the Phase 1 Pilot Plant was completed on 26 July 2019 and both hot and cold commissioning is nearing completion ahead of production ramp up.

 

The plant consists of two main parts: a 4-stage crushing circuit and a 3-stage concentrating circuit. Hot commissioning of the crushing circuit was completed in June 2019 and cold commissioning of the concentrating circuit, which includes water testing of the wet circuits, was completed on 28 July 2019. Commissioning has progressed well and the final phase will see the hot commissioning of the concentrator, followed by commercial production of tin concentrate, which is on track to commence this week. Following the final commissioning phase, the Company will focus on ramping up the plant  to its design capacity of 500,000 tonnes of ore per annum  which will produce approximately 60 tonnes of tin concentrate per month before the end of Q4 2019. Thereafter, the preparations for Phase 2 will commence, which will comprise a planned operation of a 3 million tonne of ore per annum processing facility, producing approximately 5,000 tonnes per annum of tin concentrate.

 

In relation to this update, Anthony Viljoen, CEO of AfriTin Mining, commented:

"The successful commissioning of the concentrator officially concludes the construction phase of the project and moves the plant into Phase 1 production, with first tin concentrate to be produced in the coming days. This marks a momentous milestone for the Company and for the AfriTin team in particular, having delivered a pilot plant of this scale on a relatively modest budget, within two years of listing on AIM.

We look forward to keeping the market abreast of developments as the plant ramps up to steady-state production, while at the same time, delivering on other key aspects of the project."

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 Mining 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 

Corporate Adviser and Joint Broker

 

H&P Advisory Limited

Andrew Chubb

Jay Ashfield

Nilesh Patel

+44 (0) 20 7907 8500

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 2019 ramping up to 5,000 tonnes of tin 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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Quick facts: AfriTin Mining Ltd

Price: 2.95

Market: AIM
Market Cap: £19 m
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