AfriTin records strong start to 2022 financial year
By Business Reporter
AIM-LISTED AfriTin Mining produced 183 tonnes of tin concentrate at its Uis tin mine, in the Erongo region in the first quarter of the 2022 financial year – the three-month period ended May 31.
This exceeded the production target of 180 tonnes of tin concentrate.
The shipping of tin concentrate to Thailand and offtake prepayments continue despite global Covid-19-related shipping delays, the company notes.
AfriTin is also progressing implementation of the Uis Phase 1 expansion project, which is aimed at increasing tin concentrate production by 67 percent.
The implementation programme will start with the appointment of an experienced implementation team and ordering of long-lead items.
By-product test work on tantalum and lithium oxide is progressing as planned, with the aim of realising additional revenue streams.
“AfriTin has seen a successful start to the 2022 financial year. We are delighted to release our first quarterly update for the year, demonstrating that the company is achieving its internal monthly production targets at our flagship Uis tin mine. These positive production results have coincided with 10-year high tin prices,” acclaims CEO Anthony Viljoen.