Andrada Mining Ltd - African technology metals mining company with a portfolio of mining and exploration assets in Namibia - Renews off-take agreements with the Thailand Smelting & Refining Co Ltd and AfriMet Resources AG for tin concentrate and tantalum concentrate, respectively. The Thaisarco off-take agreement has been renewed for a further three years, starting December 1, for a minimum supply of 90 metric tonnes per month, and up to 100% of the expanded production. Meanwhile, the AfriMet off-take agreement has been renewed for a plant production period of 12 months, starting January 1, with an option to receive advance payment.
Chief Executive Officer Anthony Viljoen says: ‘Our relationship with Thaisarco has been extremely successful and we are happy to be renewing the off-take agreement for another three years. The agreement secures off-take of our tin production, allowing management to focus on achieving the Orion royalty tonnage. Importantly, we are proud of the major milestones we have achieved at Uis Mine to date, including the successful expansion of the processing plant and the on-going continuous improvement programme to enhance efficiencies and profitability.’
Current stock price: 6.00 pence
12-month change: up 30%
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