Despite global uncertainty around the Covid-19 pandemic and the impacts of associated lockdowns, Aim-listed AfriTin Mining has steadily increased production from its Uis tin mine, in Namibia, resulting in a marked increase in revenue for the six months ended August 31.
The company reported a revenue of £1.08-million for the six months under review, with the plant having achieved record production of 37.5 t of tin concentrate in August.
AfriTin aims to ramp up to production of 60 t a month by the end of the year, through continued ramp up of its Phase 1 pilot plant to steady-state production.
The company has continued tin concentrate shipments to Thaisarco in the six months under review, with the offtake agreement having been renewed for a further 12 months, which should increase revenues further as production ramps up.
AfriTin says the global tin market has been one of the better performers on the London Metals Exchange during recent uncertain months, confirming the company’s belief in the market fundaments of tin.
Meanwhile, AfriTin continues to plan around expanding its revenue stream from tin concentrate to include other viable by-products, such as tantalum and lithium.
The company says it is well positioned for the second half of its financial year as it continues to work towards becoming the "tin champion of Africa".