Andrada Mining (Andrada) says it has successfully completed the commissioning of its lithium pilot plant, a pivotal step towards optimising lithium extraction from its three mining licences.
Testing on samples is set to begin in October 2023. The pilot plant will process material from various sources, including the Uis mine and the tin processing plant.
“The completion of commissioning is key to expediting the metallurgical test work essential for incorporating the lithium circuit into the Run of Mine production. The main goal is to extract consistent, saleable concentrate for both the chemical and industrial lithium markets,” Andrada Chief Executive Officer Anthony Viljoen noted.
Andrada aims to produce a minimum of 2,400 tonnes per annum of saleable concentrate for glass-ceramics off-takers.
“Discussions are underway for the sale of lithium products, and there is potential for use in lithium refineries for battery manufacturing,” the company said.
Concurrently, Andrada has also achieved success in commissioning its Tantalum Circuit, which is currently in the optimisation phase.
The circuit produced approximately 225 kilogrammes of tantalum during commissioning.
Tantalum concentrate is a vital material used in high-performance applications, with current prices reaching as high as US$170,000 per tonne.
“The operational team has performed well, and integrating the lithium plant into the production circuit could enhance total revenue. The conclusion of work streams and key financing partnerships has strengthened the company’s balance sheet for a period of growth,” Viljoen said.
This comes as the company’s operational growth reported an 86% year-on-year increase in tin concentrate to 398 tonnes and a 79% year-on-year increase in contained tin metal to 238 tonnes.
Andrada’s financial position remains robust, with operating cash costs for Q2 2024 and H1 2024 within management guidance.
The company successfully raised approximately US$10 million through convertible loan notes to fund expansion efforts in tin, tantalum, and lithium.
An additional US$25 million financing agreement with Orion Resource Partners is expected to be completed by the end of the quarter in November 2023.
Moreover, the company secured a N$100-million (approximately US$5.8 million) financing facility from the Development Bank of Namibia, with an initial drawdown on 12 September 2023.
Andrada’s recent achievements underscore its commitment to innovation, sustainability, and growth in the mining industry, positioning the company as a key player in the global lithium and tantalum markets.
Andrada, formerly Afritin Mining Limited, is a London-listed technology metals mining company with a vision to create a portfolio of globally significant, conflict-free, production and exploration assets.
