Andrada Mining Limited says it has secured non-dilutive technical assistance valued at N$37.92 million (€2 million) through the European Union’s Critical Raw Materials Technical Assistance Facility, with the funding set to accelerate the company’s Uis Lithium Expansion Project in Namibia’s Erongo Region.
According to Andrada Chief Executive Officer Anthony Viljoen, the support is provided on a grant basis rather than as a conventional loan, meaning it carries no repayment obligations and does not dilute existing shareholder equity.
The European Investment Bank (EIB) will administer the facility, managing specialised consultants tasked with advancing the project to bankable feasibility level.
“This partnership with the European Investment Bank is a major milestone for Andrada. It materially accelerates our lithium development strategy while validating Uis as a strategically important asset within the global critical minerals supply chain.
By accelerating the lithium project stream at Uis, with a clear objective of reaching bankable feasibility level, we are well positioned to become a recognised source of lithium,” Viljoen said.
The Uis Lithium Expansion Project is described as a sustainability-led initiative aimed at recovering lithium from existing processing waste streams.
By reprocessing tailings from its current tin and tantalum operations, Andrada aims to produce lithium without increasing its mining footprint, an approach the company said improves environmental efficiency while maximising the value of previously extracted ore.
The project has set a production target of 50,000 tonnes per annum of lithium (petalite) concentrate.
During the initial phase, production will focus on supplying the technical lithium market, with a second phase envisaged to target the battery and electric vehicle industries as global demand for lithium continues to grow.
“The project will deliver strong local economic and social benefits for Namibian citizens, growing our existing contribution while positioning Andrada at the centre of the EU’s critical minerals supply framework. Ultimately, this project will advance our critical mineral offering, enhance long-term shareholder value and contribute meaningfully to the Namibian economy,” Viljoen said.
