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AfriTin suspends open pit mining, but will continue to process two months’ worth of stockpiled material

AfriTin has recently restarted mining operations at Uis

AfriTin Mining Ltd -

AfriTin Mining Ltd (LON:ATM) has said it will suspend open mining operations at its Uis tin mine in Namibia, following the announcement of a 21-day lockdown by the country's government.

In a statement, AfriTin said it will continue feeding the processing plant from the run-of-mine stockpile during this period. The company has more than two months' worth of production on its stockpile and does not believe this will have a detrimental impact on the progress at site.

As part of the debottlenecking of the processing plant announced in February, AfriTin scheduled a plant shutdown to implement the required modifications.

These activities will continue under the current restrictions, although the risk of supply chain disruptions may impact on the scope and timing of the plant shutdown. 

The company plans to export the next shipment of tin concentrate from Walvis Bay by mid-April 2020.

As it currently stands, the relevant port and smelter operations continue to move and accept tin concentrate.  There are no confirmed coronavirus cases across the company's operations to date.

“We will operate at a minimal mining and processing activity,” said Anthony Viljoen, chief executive of AfriTin Mining.

“I also take comfort in the fact that the mine is isolated, with very little movement of people through the area. Having said this, we are taking no chances and are ensuring the strictest hygiene and social distancing levels across the business and continue monitoring all of our employees for any symptoms of the virus.”

Quick facts: AfriTin Mining Ltd

Price: 1.8 GBX

AIM:ATM
Market: AIM
Market Cap: £11.76 m
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