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AfriTin forecasts maiden concentrate production in second quarter following additions to Uis pilot plant

The mining firm said in an operational update that the decisions taken to modify the phase 1 plant to add production capacity and produce tantalum concentrate would add to revenues

Tantalum
Tantalum is a corrosion-resistant metal used for capacitors in electronics

AfriTin Mining Limited (LON:ATM) said it is expecting maiden tin and tantalum concentrate production from its phase 1 pilot plant project at the Uis mine in Namibia in the second quarter of 2019 following additions to the plant.

The mining firm said in an operational update that the stockpiling of ore at the site following the first blast in December last year was “proceeding well”, while the decision taken to modify the phase 1 plant to add production capacity and produce tantalum concentrate would add to revenues.

WATCH: AfriTin's Anthony Viljoen on site as first large-scale blast takes place at Uis tin mine

A third dense medium separation (DMS) section had been procured for the plant to increase throughput capacity and flexibility as well as the installation of a magnetic separation circuit.

AfriTin added that it was “well advanced” in procuring mining contractor services for drilling, blasting, loading, and hauling, with mobilisation expected once a contract had been finalised.

There had also been confirmation of a sufficient process water supply from a hydrogeological study and water drilling programme, with further progress on other drilling activities in line with the firm’s targets.

Anthony Viljoen, chief executive of AfriTin, said the additions to the pilot plant would allow for the production of both tin and tantalum concentrates as well as larger throughput capacity which would “not only improve revenue from Phase 1 but also allow us to further de-risk the larger Phase 2 production which is subject to a Bankable Feasibility Study”.

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Price: 2.8 GBX

AIM:ATM
Market: AIM
Market Cap: £18.29 m
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