Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) CEO Anthony Viljoen talked with Proactive about the company's major new partnership with Chile-based SQM, one of the world's largest lithium chemicals producers, to develop its Lithium Ridge prospect at Uis in Namibia.
Viljoen described the deal as the largest in Andrada's history, emphasising the significance of collaborating with one of the world's top lithium producers. The partnership will bring both financial and technical support, rapidly advancing Andrada's lithium strategy and unlocking more value from its Namibian assets.
"This asset was sitting on our balance sheets at $2 million, and this deal effectively values it much higher," said Viljoen, highlighting the potential this partnership brings. SQM's expertise in lithium, especially from its work in Australia, is expected to accelerate Andrada's development timeline significantly. The agreement establishes a joint technical committee, enabling both companies to collaborate closely.
Looking forward, Viljoen mentioned several catalysts, including upcoming drilling projects and continued development of their pilot facility. He remains optimistic that Andrada is positioned for exponential growth, stating, "The brakes are off now, and we’re very excited to deliver all this good news to the market."