Andrada Mining has secured more than N$1.5 billion (US$90 million) in non-dilutive and project-level financing to support the expansion of its lithium, tin and copper projects in Namibia.
Chief Executive Officer Anthony Viljoen said the funding strengthens the company’s financial position as it advances development at its Uis, Lithium Ridge and Brandberg West projects.
“We now have strong institutional shareholders and globally recognised partners, including SQM and ACAM through their subsidiary BWCam, as well as established banking relationships with local Namibian banks and, more recently, the European Investment Bank. This technically validates the assets, reduces risk, and supports execution. We now have over US$90 million in non-dilutive or project-level financing,” he said.
Viljoen said the company believes the combined value of its core assets could exceed its current market valuation of about N$1.6 billion (US$95 million).
“Importantly, the market is currently valuing the company at around US$95 million. However, based on internal project economics and the valuation attributed to partnerships, the underlying value potential could be significantly higher. Across all three assets, the work is funded, timelines are defined, and milestones are clearly set,” he said.
According to the company, the funding will be used to accelerate lithium and copper development projects over the next eight to 18 months.
At the Uis Mine, Andrada plans to increase production through the addition of a new crushing circuit, improved ore grades and enhanced recovery systems, including ore sorting technology.
The company said the upgrades are expected to improve cash flow generation while advancing its lithium integration project towards a bankable feasibility study.
At Lithium Ridge, the focus will be on drilling campaigns, metallurgical test work and early-stage resource estimation as part of preparations for a future feasibility study.
Meanwhile, exploration and metallurgical programmes at Brandberg West will target tin and copper mineralisation, with the company also seeking to unlock additional value from historical drilling data.
“Importantly, production is growing, margins are expanding, and new revenue streams are being unlocked. This is no longer a long-dated story, it is a company already delivering and about to scale. That is why we believe there is a clear pathway to unlocking value,” Viljoen said.
