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Aim listed Andrada Mining has secured Namibian Competition Commission approval for the earn in agreement between its subsidiary, Andrada Investments, and BWCAM, a subsidiary of natural resource partnership ACAM, clearing the way for accelerated development at the Brandberg West copper, tungsten and tin project.
Under the agreement, BWCAM could contribute up to US$51 million in staged funding to speed exploration and development of the Brandberg West polymetallic prospecting licence, held by Andrada’s wholly owned subsidiary Grace Timon Investments. In return, BWCAM secures a 49 percent stake in Andrada Investments, giving the partnership a direct financial stake in the project’s success. Work on the ground is already advancing. Geophysical surveys and reverse circulation drilling across the historical tailings storage facility are complete, while diamond drilling and sampling to test mineral extraction from waste streams are under way.
Andrada Mining’s Chief Executive Anthony Viljoen called the clearance a pivotal step. He said, “The unconditional approval from the NaCC represents another important step in unlocking the potential of Brandberg West. Our partnership with BWCAM combines Andrada’s Namibian operating and geological expertise with ACAM’s investment capabilities to advance the project systematically.” The company noted that further market updates will follow in due course.
