Quarterly Production Update

AfriTin Mining Limited (AIM: ATM), an African tech-metals mining company with a portfolio of mining and exploration assets in Namibia containing tin, lithium and tantalum, including its flagship asset, the Uis Tin Mine (“Uis”), is pleased to provide a production update for the three-month period ended 30 November 2021 (Q3 of the financial year).

Highlights:

• Production of tin increased by 20% quarter-on-quarter (“QoQ”) to 136 tonnes;
• Ore tonnes processed increased by 17% QoQ to 149k tonnes;
• All-in sustaining cost (“AISC”) for the Uis operation improved by 22% QoQ to c. US$23k;
• Construction of Uis Phase 1 Expansion Project is on track and on budget; and
• Workstreams for an enhanced, large-scale Uis Phase 2 expansion have commenced, which include exploration drilling targeting resource expansion to 150 million tonnes of ore and metallurgical test work and piloting for lithium and tantalum by-products.

Anthony Viljoen (CEO) commented:

“We are pleased to present a solid set of operational results that exceed our internal production targets. Sustained improvements in operational efficiencies have resulted in substantial increases in ore processed and concentrate produced, and testifies to the capacity and resilience of the AfriTin technical team.

These results provide us with the momentum to progress rapidly with the expansion of our Phase 1 plant at Uis, and serve as proof of concept for the planned, large-scale Phase 2 facility. By leveraging economies of scale and the multi-commodity potential of Uis, we are confident of achieving our ultimate aim of establishing a tier-one tech-metal mining and processing operation.”

In the interview below, Anthony Viljoen provides an overview of the business and gives a snapshot of the tin market