Last checked at 7 Dec 2020 07:00
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.
Description | Units | 2020 | ||||||||||
Jan | Feb | Mar | Apr * | May | Jun | Jul | Aug | Sep | Oct | Nov | ||
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.