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(Alliance News) - AfriTin Mining Ltd on Tuesday said it has completed its first sale of tin concentrate from a mine in Namibia.
The miner added a second shipment of tin concentrate has also been dispatched from the Uis mine. The sales are part of an offtake agreement with Thailand Smelting & Refining Co Ltd.
Under the agreement's terms, announced in August, concentrate produced during the period of the offtake will be shipped to Thailand Smelting.
AfriTin Chief Executive Anthony Viljoen said: "The first shipment of tin concentrate and first revenues from the Uis tin mine in three decades marks a significant milestone for the company and the Erongo region of Namibia. We will continue to deliver this operation as we ramp up production to nameplate of 60 tonnes of tin concentrate per month.
"Combined with a JORC-compliant mineral resource estimate of 95,539 tonnes of contained tin, we are well placed to advance the project to the goal of establishing an enlarged mining and processing facility."
Shares in the company were 2.7% higher at 2.85 pence each in London on Tuesday.
By Eric Cunha; ericcunha@alliancenews.com
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