AfriTin Mining Limited has raised £13m for the the Phase 1 expansion of its Uis tin  in Namibia. The expansion aims to increase nameplate production by 67% from 60 tonnes of tin concentrate to 100 tonnes of tin concentrate per month.

The Placing of 216,666,667  shares at a price of 6 pence were at a discount  of 12.5% to the Closing Price on 11 May 2021.

As well as maximising potential tin production, CEO Anthony Viljoen added that the proceeds will also, “… allow us to further investigate the exciting, significant lithium and tantalum by-product potential we have across our extensive resource base, and further exploration on our regional assets.”

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