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In a dramatic display of operational momentum, London AIM-listed Andrada Mining has delivered a standout financial performance for the six months ending August 31, backed by surging global tin prices and increased output at its flagship Uis tin mine in Namibia. The Erongo region operator saw revenue leap 80% to £20.6 million, while gross profit quadrupled to over £8.3 million, expanding its gross margin to an impressive 40.3%.
This surging top-line performance propelled the critical minerals miner into a decisive profit turnaround. After recording a £3 million loss during the comparative period, Andrada delivered a post-tax profit of £2.5 million, alongside an EBITDA surge to £4.5 million. Operational efficiency was particularly evident in cash flow generation: the company harvested £4.9 million in cash from operations over the six months, surpassing its total operational cash generation of £4.7 million for the entire 2026 financial year and bolstered its cash reserves to £15.6 million.
The underlying engines of this financial leap were a 13% increase in tin production at Uis and a striking 57% surge in the effective tin price realised by the company, reaching $52,131 per tonne. The open-cast, hard-rock polymetallic operation, which also hosts substantial lithium and tantalum reserves, demonstrated the benefits of recent throughput enhancements ahead of its next major expansion phase.
“These results mark a significant turning point for Andrada, with strong operational performance at Uis translating into a step-change in profitability and cash generation,” stated Anthony Viljoen, Chief Executive Officer of Andrada Mining. “We enter the second half of the financial year from a considerably stronger position with a critical minerals platform of three assets or value creators.”
Looking ahead, Andrada is poised to build on this high-margin baseline through fully funded plant upgrades, including the on-schedule installation of a new ore-sorting circuit at Uis. Simultaneously, the company is leveraging major strategic partnerships to unlock multi-commodity growth across tin, lithium, tungsten, copper, and tantalum. Its Lithium Ridge project is advancing under an earn-in agreement with Chilean lithium giant SQM, while the historic Brandberg West copper-tin-tungsten asset is being developed alongside private investment affiliate BWCAM.
With its balance sheet fortified and operational execution validated, management remains focused on transitioning its strategic development pipeline into expanded output and long-term valuation gains.
“We have demonstrated the earnings and cash-generation potential of the business,” Viljoen highlighted. “The priority now is to convert our funded investment programme and strategic partnerships into higher production, measurable project progress and sustainable shareholder value. Together with our renewed board, this gives Andrada a clear platform to execute on growth across all three assets.”
