Andrada Mining Limited has raised approximately N$180.95 million (US$11 million) through a strategic equity placement aimed at accelerating its growth and expansion in Namibia’s critical minerals sector.
The funding was secured from strategic investors through the issuance of more than 226 million new shares at 3.6 pence each.
The company said the capital comes at a key stage in its development, enabling it to scale up operations and benefit from strong global commodity prices, particularly in the tin market.
Chief executive officer Anthony Viljoen said the fundraising meets the group’s current equity financing requirements and positions it to advance priority projects.
“The completion of this placement with key strategic investors comes at a pivotal juncture for Andrada. The funding allows the company to scale up operations and advance various growth initiatives, while benefiting from the current high commodity price environment.
Importantly, this fundraise meets the group’s current equity funding requirements,” he said.
Viljoen said the proceeds will mainly be used to expand operations at the Uis mine. Planned upgrades include installing additional crushing capacity to increase throughput, accelerating stripping to improve access to ore, and updating resource and reserve estimates. These measures are expected to lift production and improve cash flow.
Beyond Uis, Andrada is continuing exploration at Lithium Ridge and Brandberg West, with both projects funded through partnerships with SQM and BWCAM. The company said these projects form part of its strategy to diversify its critical minerals portfolio.
“This funding, together with current tin prices and production, provides a pathway for the company to complete its expansion programme at Uis, with exploration at Lithium Ridge and Brandberg West already funded by strategic partners SQM and BWCAM,” Viljoen said.
The fundraising remains subject to regulatory approval, with the new shares expected to begin trading on London’s AIM market on 23 April 2026. The company said the strengthened financial position will support delivery of its expansion plans and long-term value.
