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AfriTin Mining Ltd

Afritin MIning happy to build up slowly at Uis tin mine

Snapshot

  • AfriTin Mining Limited is developing the Uis tin project in north-west Namibia

  • Phase 1 will see 500,000 tonnes of ore per annum processed

  • This will produce 60 tonnes of tin concentrate per month.

  • Phase 2 will see capacity rise to 3mln tonnes per annum, producing 5,000 tonnes of tin concentrate each year

Process plant

Quick facts: AfriTin Mining Ltd

Price: £0.03

Market: AIM
Market Cap: £22.06 m
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We will start up with a steady state 65 tonnes per month.

All of our areas are fully licensed so we can start mining straight away.

Anthony Viljoen, chief executive

What it owns

Uis is a formerly producing mine that was shut down more than 20 years ago when the tin price hit a nadir.

AfriTin (LON:ATM) is now working to restart the operation.

According to a historic resource estimate prepared by SRK, Uis has more than 70mln tonnes of ore containing 95,000 tonnes of tin.

The mine plan worked out by SRK says that that’s enough to allow for production through to 2063, although initially, AfriTin has much more modest goals.

In February, AfriTin added it had discovered significant grades of lithium, in addition to tin, in pegmatites in the ML 133 Licence, located in the Nainais area of Nambia.

ML 133 is outside of the current development area at the Uis tin mine.

In May, AfriTin also signed an agreement with Namibia Power over grid electricity for the pilot plant at the Uis tin mine.

An 800-metre power line and substation will be built for the grid connection to coincide with the anticipated production ramp-up of the processing plant.

In August, AfriTin agreed a £2.46mln working capital facility with Nedbank Namibia having reported two weeks earlier that it was moving towards completion of the commissioning phase of the pilot plant.

 

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Inflexion points

  • Ore already being stockpiled
  • Pilot plant modifications completed
  • Production gets underway at phase 1 at Uis of both tin ad tantalum
  • Bankable study for phase 2 upgrade

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Watch

Full interview: AfriTin Mining's tin resource at Uis project 'one of the...

AfriTin Mining Limited's (LON:ATM) chief executive Anthony Viljoen tells Proactive London's Andrew Scott they're to move ahead with plans for a large scale operation at the Uis tin mine after a maiden resource confirmed the scale of the orebody. On a JORC basis, measured, indicated and...

5 days, 14 hours ago

2 min read