Andrada Mining Limited (Andrada) reported a 5% year-on-year increase in ore processing during Q2 FY2025, with 243,528 tonnes processed and plant utilisation rising to 93%.
The company also achieved a significant improvement in tin recovery, reaching 75%, up from 67% in the previous year.
Meanwhile, tin prices surged, with the average realised price increasing to N$548,226 (US$31,937) per tonne, compared to N$433,150 (US$25,183) in Q2 FY2024, further strengthening Andrada’s financial position.
Andrada CEO, Anthony Viljoen, said the company has made strides in its tantalum and lithium operations.
The company produced 16 tonnes of tantalum concentrate, marking a 78% increase, and shipped 15 tonnes to AfriMet.
Additionally, Andrada completed a sale of five tonnes of petalite concentrate to a ceramic producer, further validating the potential of its lithium resources.
“We continue to improve operational performance as we optimise processes, indicated by the higher plant utilisation rates and contained tin tonnage. The exposure of the higher-grade ore at Uis has enabled us to expedite the lithium bulk-sampling campaigns. We are extremely pleased with the initial commercial sale of petalite concentrate that validates the value of Uis’s lithium mineralisation,” he said.
Financially, Andrada kept operating costs within management guidance, with a C1 operating cost of US$19,927 per tonne of contained tin and an all-in sustaining cost of US$27,931.
The company also finalised a N$175 million (£7.5 million) funding agreement with Bank Windhoek to support future growth.
Viljoen also highlighted the company’s continued operational improvements and its focus on optimising processes.
Strategic partnerships, including a recent agreement with SQM for the development of its Lithium Ridge asset, are expected to further strengthen Andrada’s position as a global supplier of critical metals.
“The continued support from our lenders as demonstrated by the finalisation of the Bank Windhoek funding agreement is an endorsement of our ability to implement and achieve our strategic objectives. Finally, the high-profile partnership announced earlier this month with SQM on Lithium Ridge alongside the recent drilling results at Brandberg West truly confirm the high-quality nature of our resource portfolio and the exciting opportunity at Andrada,” he said.
