AfriTin CEO Anthony Viljoen
Aim-listed AfriTin Mining has produced the first tin concentrate at its flagship Uis mine, in Namibia.
This follows completion of the Phase 1 pilot plant in July.
AfriTin will now focus on ramping the plant up to its design capacity of 500 000 t/y of ore, which will produce about 60 t a month of tin concentrate by the end of the fourth quarter of 2019.
Moreover, AfriTin has concluded an offtake agreement with Thailand Smelting and Refining (Thaisarco) for tin concentrate produced at the Uis mine.
The one-year offtake agreement enables AfriTin to sell its tin concentrate and secure revenue for the next 12 months with an option to extend the contract.
The offtake agreement specifies pre-agreed concentrate deliverables which are in line with the project ramp-up and design specification of the plant.
In terms of the offtake agreement, concentrate produced during the period of the offtake is to be shipped to Thaisarco in Phuket, Thailand, from the Port of Walvis Bay.
“We are delighted to support AfriTin with a new offtake agreement for responsibly sourced tin concentrates.
“These concentrates will be smelted and processed into quality tin ingots, granules, solder, high-purity products and powders,” Thaisarco MD Andrew Davies commented in a statement issued on Monday.
AfriTin CEO Anthony Viljoen said the company was pleased to partner with Thaisarco on the offtake of tin concentrate, which signalled a vote of confidence in the long-term development of the mine by a key player in the global, conflict-free tin concentrate market.
“Having produced first tin concentrate, concluded an offtake agreement and secured a working capital facility for the ramp-up phase of the pilot plant, AfriTin is on track to create the first revenue-generating, conflict-free asset in our portfolio,” he noted.