TIDMATM
RNS Number : 6756H
AfriTin Mining Ltd
07 December 2020
7 December 2020
AfriTin Mining Limited
("AfriTin" or the "Company")
Operational Update
Major milestone achieved: Nameplate tin concentrate production
at Uis
AfriTin Mining Limited (AIM: ATM), an African tin mining company
with its flagship asset, the Uis Tin Mine ("Uis") in Namibia, is
pleased to provide an operational update for the month of November
2020.
Highlights:
-- Nameplate tin concentrate production and completion of
production ramp-up achieved for Stage I of Phase 1 during November
2020;
-- Tin concentrate production totalled 63.9 tonnes for November
2020, representing a 32% month-on-month increase; and,
-- No confirmed COVID-19 cases have been recorded at the Uis Tin
Mine to date, as strict COVID-19 mitigation measures remain in
place to safeguard the workforce.
The Company is pleased to report it has successfully completed
Stage I of its Phase 1 production ramp-up of its pilot mining and
processing facility, achieving 63.9 tonnes of tin concentrate
(containing 41.6 tonnes of tin metal) during the month of November,
a 32% improvement on the previous month. The production level
achieved in November represents approximately 107% of the Stage I
target in terms of tin concentrate tonnes produced and 116% of the
Stage I target in terms of tin contained in concentrate. Following
the optimisation initiatives implemented over the course of 2020,
the performance of the operation has exceeded nameplate production
and reached this milestone prior to the end of 2020 as previously
projected.
The monthly production performance for 2020 is tabulated below.
With the production ramp-up complete, the Company will, in future,
switch to quarterly reporting of production performance.
Table 1 : Monthly performance of the Uis Phase 1 pilot plant
during 2020.
2020
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Description Units *
------ ------ ------ ----- ------ ------ ------ ------ ------ ------ ------
Plant Availability % 59% 60% 64% 59% 65% 69% 73% 72% 74% 81% 83%
----- ------ ------ ------ ----- ------ ------ ------ ------ ------ ------ ------
Plant Utilisation % 58% 66% 68% 54% 70% 76% 88% 81% 85% 85% 87%
----- ------ ------ ------ ----- ------ ------ ------ ------ ------ ------ ------
Plant Processing
Rate tph 45 51 52 41 48 49 65 70 69 73 74
----- ------ ------ ------ ----- ------ ------ ------ ------ ------ ------ ------
Ore Processed t 11,420 14,043 16,866 9,618 16,217 18,551 31,324 30,872 30,831 36,796 38,211
----- ------ ------ ------ ----- ------ ------ ------ ------ ------ ------ ------
Tin Concentrate t 11.4 11.0 12.3 11.1 11.2 19.7 35.3 37.5 39.0 48.5 63.9
----- ------ ------ ------ ----- ------ ------ ------ ------ ------ ------ ------
Tin Contained
in Concentrate t 7.4 7.1 8.4 7.7 7.2 12.6 22.7 25.6 27.5 32.2 41.6
----- ------ ------ ------ ----- ------ ------ ------ ------ ------ ------ ------
* Operations curtailed due to COVID-19 lockdown regulations
Tin concentrate production for the year to date totals 301
tonnes. Despite COVID-19 related restrictions, shipping of tin
concentrate through the port of Walvis Bay to the off-take partner
in Thailand continues unabated.
AfriTin will now focus on maintaining steady state production,
while exploring opportunities for further optimisation and
expansion of the operation. These opportunities include a modular
expansion of the plant throughput, and potential production of a
by-product in the form of a tantalum concentrate. The Company is
conducting test work to investigate the feasibility of magnetically
separating tantalum minerals from the tin concentrate.
The health, safety, and well-being of AfriTin's employees,
contractors and the local community are of utmost importance to the
Company. As previously announced, strict COVID-19 mitigation
measures remain implemented across the Company and all necessary
steps have been taken to safeguard the workforce . The Company is
pleased to report that there are still no confirmed cases of
COVID-19 at the Uis Tin Mine.
Anthony Viljoen, CEO of AfriTin Mining Limited commented:
"We are delighted to have achieved nameplate tin concentrate
production of 63.9 tonnes, at our flagship asset, the Uis Tin Mine,
ahead of year end. This is a defining milestone that has been
achieved for the Company. This success speaks volumes for the high
quality nature of the asset and the calibre of our management team,
whom I would like to sincerely congratulate given the macro
challenges faced by the global pandemic.
"Furthermore, this accomplishment provides us with the platform
to progress, with proven confidence, our development plan for the
Uis Tin Mine towards a large-scale mining and processing
facility."
For further information, please visit www.afritinmining.com or
contact:
AfriTin Mining Limited
Anthony Viljoen, CEO +27 (11) 268 6555
Nominated Adviser
WH Ireland Limited
Katy Mitchell
James Sinclair-Ford +44 (0) 207 220 1666
Corporate Advisor and Joint Broker
Hannam & Partners
Andrew Chubb
Jay Ashfield
Nilesh Patel +44 (0) 20 7907 8500
Joint Broker
Turner Pope Investments
Andy Thacker +44 (0) 203 657 0050
Financial PR (United Kingdom)
Tavistock +44 (0) 207 920 3150
Jos Simson
Emily Moss
Oliver Lamb
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining Limited is the first pure tin company listed in
London and its vision is to create a portfolio of globally
significant, conflict-free, tin-producing assets. The Company's
flagship asset is the Uis Tin Mine in Namibia, formerly the world's
largest hard-rock opencast tin mine.
AfriTin is managed by an experienced board of directors and
management team with a current two-fold strategy: fast-track Uis
Tin Mine in Namibia to commercial production as Phase 1, ramping up
to 5,000 tonnes of concentrate per annum in a Phase 2 expansion.
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.
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END
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