LONDON (Alliance News) - AfriTin Mining Ltd on Tuesday cautioned that operations at its Uis tin mine in Namibia will start slightly later than planned.
AfriTin has now started commissioning the processing plant at Uis, while the mining contractor has mobilised. Workforce recruitment is nearly done, and water and power supply is in place.
However, AfriTin said hot commissioning and continuous operations will start most likely in July, having previously planned to start in the second quarter.
"The is due to longer-than-expected lead times in the procurement of equipment, material and construction services," said AfriTin.
Once commissioning has finished, the company will ramp-up the mine, and it hopes to reach capacity by the end of 2019.
Chief Executive Anthony Viljoen said: "We have been looking forward to this exciting phase of the project since breaking first ground at the end of 2018. While there is work to be done to achieve steady state production, the significant step of commencing production and first concentrate is a momentous milestone for the company.
"Bringing a project of this scale and stature into a supply constrained tin market, less than two years since our admission to AIM, I believe this places AfriTin as a player of significance in the global tin market."
Shares were down 2.6% on Tuesday shortly before midday in London at 3.12 pence each.
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