CHAMWE KAIRA
Andrada Mining has transformed itself into a multi-mineral producer during the 2024 financial year, achieving a remarkable double-digit increase in tin concentrate production and successfully produced its first commercial batch of tantalum, solidifying our position as a key player in the critical metals space, chairman, Glen Parsons said.
During the same period, Andrada has implemented a water recycling programme that reduced its environmental impact.
“We also maintained a 99% Namibian workforce, demonstrating our commitment to the local community. Andrada’s vision is deeply intertwined with our identity as a proudly Namibian company with significant future growth and value potential,” said Parsons.
The company managed to unlock additional value through exploration milestones at Lithium Ridge and Spodumene Hill. This development approach has enabled the production of tantalum and lithium concentrates, establishing additional revenue streams that will significantly mitigate single product price and demand volatility risks.
“Multi-mineral production at Uis Mine will also drive down overall costs to the benefit of the bottom line. The ability to increase revenue and cash flow while managing costs remains imperative to improving profitability.”
The period saw increased tin production and commencement of tantalum production, which saw 50% annual volume increases in both tin concentrate and tin metal production.
“This was mainly due to the plant expansion implemented towards the end of the prior financial year. The expanded plant is now in stable production. Furthermore, we successfully produced our first consignment of tantalum at the end of the 2024 financial year. This proved our ability to meet the AfriMet supply agreement and marked a key milestone in Andrada’s goal of being a multi-mineral producer.”
During the year, the company forged new global and local funding partnerships with the Development Bank of Namibia, Bank Windhoek, and Orion Resource Partners while nurturing existing relationships.
Parsons said the company is confident that the ring-fenced US$12.5 million Orion tin royalty, combined with the continuous improvement programme launched during the year at Uis Mine, will enable the company to realise this objective.
Andrada spent just over N$505 million (US$27 million) through procurement from Namibian suppliers in the 2024 financial year.
Chief executive Officer, Anthony Villjoen added that bringing a lithium concentrate to market will be the first step to validating the lithium potential of the Erongo Region and unlocking the significant potential of the company’s large mineral resource.
He said annual ore processing now stands at approximately one million tonnes, and tin concentrate production at approximately 1 500 tonnes.
“This takes us a step closer to our goal of producing 2 600 tonnes of tin concentrate (1 600 tonnes of contained tin), in line with the Orion royalty agreement.”
