Andrada achieves strong interim production, revenue growth
Namibia-focused metals and mining company Andrada Mining, which operates the Uis mine, achieved significant growth in the six months ended August 31, driven by a 67% year-in-year increase in tin concentrate production to 758 t, which resulted in a 58% increase in contained tin to 454 t.
Consequently, revenue increased to £8.7-million, from £4.7-million recorded for the six months to August 31, 2022.
The increase in revenue resulted in a higher gross profit of £1.5-million compared with a gross loss of £1-million in the prior comparable period.
"This impressive performance is attributed to a 37% increase in plant processing rate and a 10% improvement in capacity utilisation, following the completion of the modular expansion of the crushing and tin concentration circuits in the third quarter of 2023.
"The enhanced plant performance revealed bottlenecks that needed to be eliminated to ensure sustainability of the increased output and higher production rates. To that effect, the CI2 is expected to improve processing efficiencies to maximise the tin concentrate recovery rate to approximately 70%, establish business sustainability through the enhancement of operational support infrastructure and to reduce operating costs," the company says.
"The interim period under review has been nothing short of eventful and exhilarating.
"We achieved numerous milestones across all the company's departments with a single-mindedness to expedite the route-to-market for lithium and tantalum. These milestones include the significant lithium discoveries on Lithium Ridge and Spodumene Hill licence areas which established Andrada as an emerging, formidable polymetallic producer," says CEO Anthony Viljoen.
Comments
Research Reports
Latest Multimedia
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
