TIDMATM
RNS Number : 0278F
AfriTin Mining Ltd
12 November 2020
12 November 2020
AfriTin Mining Limited
("AfriTin" or the "Company")
Operational Update
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 October
2020.
Highlights:
-- Phase 1 Stage I ramp-up continues, with production of tin
concentrate increasing to 48.2 tonnes for October 2020,
representing a 24% month-on-month increase;
-- The Company remains on track to achieve nameplate production
of 60 tonnes a month of tin concentrate by the end of 2020;
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 continues with the Stage I of Phase 1 production
ramp-up of its pilot mining and processing facility and produced
48.2 tonnes of tin concentrate (containing 32.2 tonnes of tin
metal) over the month of October, a 24% improvement on the previous
month. The production level achieved in October represents
approximately 90% of the Stage I target on the basis of tin
contained in concentrate. The Company is targeting the processing
of 45,000 tonnes of ore per month, to produce 60 tonnes of tin
concentrate (36 tonnes of tin metal) per month for Stage I of Phase
1. The monthly production performance for 2020 is tabulated below.
Tin concentrate production for the year to date totals 237 tonnes.
Plant availability and utilisation have increased steadily which,
combined with improved plant processing rates, yielded increased
plant production. The Company remains on track to achieve nameplate
production of 60 tonnes a month of tin concentrate by the end of
2020.
Table 1 : Monthly performance from the Uis Phase 1 pilot plant
during 2020.
2020
Jan Feb Mar Apr May Jun Jul Aug Sep Oct
Description Units *
------ ------ ------ ----- ------ ------ ------ ------ ------ ------
Plant Availability % 59% 60% 64% 59% 65% 69% 73% 72% 74% 81%
----- ------ ------ ------ ----- ------ ------ ------ ------ ------ ------
Plant Utilisation % 58% 66% 68% 54% 70% 76% 88% 81% 85%** 85%
----- ------ ------ ------ ----- ------ ------ ------ ------ ------ ------
Plant Processing
Rate tph 45 51 52 41 48 49 65 70 69 73
----- ------ ------ ------ ----- ------ ------ ------ ------ ------ ------
Ore Processed t 11,420 14,043 16,866 9,618 16,217 18,551 31,324 30,872 30,831 36,796
----- ------ ------ ------ ----- ------ ------ ------ ------ ------ ------
Tin Concentrate t 11.4 11.0 12.3 11.1 11.2 19.7 35.3 37.5 39.0 48.2
----- ------ ------ ------ ----- ------ ------ ------ ------ ------ ------
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
----- ------ ------ ------ ----- ------ ------ ------ ------ ------ ------
* Operations curtailed due to COVID-19 government lockdown
regulations
** Incorrectly reported as 75% in RNS (1259D) dated 26 October
2020
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:
"I am delighted to report, once again, further positive
increases in the Uis Tin Mine's month-on-month plant performance as
we enter the final stage of our Phase 1 Stage I production ramp-up.
Pleasingly, the production of tin concentrate has increased to 48.2
tonnes for October 2020, which represents a 24% increase from
September 2020. More importantly this means we remain on track to
achieve nameplate production of 60 tonnes a month of tin
concentrate by the end of the calendar year.
As stated previously, once nameplate capacity is realised, the
Company will progress towards Stage II, expanding its production
levels even further.
AfriTin continues to remain well-positioned to take advantage of
the improving tin market fundamentals, as it looks to achieve its
vision of becoming a large-scale tin producer in Namibia."
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 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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