Friday , July 12 2024

AfriTin cements commitment to further develop Namibia and its capital markets

As of March 9, AfriTin Mining, an Aim-listed tin miner, has dual-listed its ordinary shares on the Namibia Stock Exchange (NSX).

On the day of the listing, AfriTin CEO Anthony Viljoen said, “This is an important milestone for the company, which cements our commitment to further developing Namibia and its capital markets.”

The Uis tin mine, the company’s flagship asset, is located in the Erongo region of north-western Namibia, on one of three separate mining licenses within the region.

After reaching the nameplate production capacity of 80 t/h in September 2020, the mine went into full production. The mine now produces 720 tonnes of tin concentrate per year.

Uis incorporates a Joint Ore Reserves Committee-compliant resource estimate of about 71.54-million tonnes of ore, containing about 95 000 t of tin, 6 000 t of tantalum and 450 000 t of lithium oxide.

The company said the dual listing on the NSX would allow Southern African Development Community members to participate in the developing opportunity at Uis.

“We are confident that Uis will generate significant value for shareholders, and we look forward to providing the market with updates as work progresses,” Viljoen concluded.

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