Tin price rally favours Andrada
Andrada bullish
Andrada Mining says it is poised to grow based on tin production.
Tin mining company Andrada Resources says it is perfectly poised to benefit from a tin price rally.
“Exposing planned ore zones has reduced our stripping ratio at Uis to 1.5:1 as of the end of May 2024. Coinciding favourably with our expansion of both tin concentrate and contained tin production, we are ideally positioned to capitalise on the tin price rally that began in April 2024. Despite the plant outages during the quarter, I am pleased to confirm that all the issues were resolved and will not repeat in the future,” Andrada CEO Andre Viljoen said recently while giving an update on the operations of the mining company.
Andrada also recorded improvements with regards to its tantalum production, Viljoen said.
“We successfully produced and delivered our first five-tonne consignment of tantalum to AfriMet during the quarter, with the second consignment produced and targeted for shipment in the second quarter,” he said.
The supply of tantalum placed Andrada on a path towards becoming a multi-mineral producer of critical metals, Viljoen said.
“This is an important milestone for the company that places us firmly on the path to becoming a multi-mineral producer of critical metals. We look forward to a continuation of this supply agreement,” Viljoen said.
Unlocking opportunities
Andrada also stands to benefit from the diversity of minerals on its mining licence, Viljoen said.
"Given the diversity of the minerals within our mining licences, we have broadened the scope of our strategic process beyond just the Uis mining licence. The expansion of the scope has the potential to unlock multiple partnership opportunities across our portfolio of assets. This process is progressing well, and we look forward to providing an update," Viljoen said.
“We remain highly optimistic for the remainder of the year based on the value that will be unlocked across the portfolio,” he added.
Ore processed increased by 10% year-on-year but remained unchanged quarter-on-quarter at 238 carats. Consequently, the tin concentrate production decreased to 364 tonnes, resulting in a decrease in contained tin to 223 tonnes. However, the year-on-year tin concentrate and contained tin tonnages marginally increased, reflecting the positive impact of the financial year 2023 expansion project.
“Exposing planned ore zones has reduced our stripping ratio at Uis to 1.5:1 as of the end of May 2024. Coinciding favourably with our expansion of both tin concentrate and contained tin production, we are ideally positioned to capitalise on the tin price rally that began in April 2024. Despite the plant outages during the quarter, I am pleased to confirm that all the issues were resolved and will not repeat in the future,” Andrada CEO Andre Viljoen said recently while giving an update on the operations of the mining company.
Andrada also recorded improvements with regards to its tantalum production, Viljoen said.
“We successfully produced and delivered our first five-tonne consignment of tantalum to AfriMet during the quarter, with the second consignment produced and targeted for shipment in the second quarter,” he said.
The supply of tantalum placed Andrada on a path towards becoming a multi-mineral producer of critical metals, Viljoen said.
“This is an important milestone for the company that places us firmly on the path to becoming a multi-mineral producer of critical metals. We look forward to a continuation of this supply agreement,” Viljoen said.
Unlocking opportunities
Andrada also stands to benefit from the diversity of minerals on its mining licence, Viljoen said.
"Given the diversity of the minerals within our mining licences, we have broadened the scope of our strategic process beyond just the Uis mining licence. The expansion of the scope has the potential to unlock multiple partnership opportunities across our portfolio of assets. This process is progressing well, and we look forward to providing an update," Viljoen said.
“We remain highly optimistic for the remainder of the year based on the value that will be unlocked across the portfolio,” he added.
Ore processed increased by 10% year-on-year but remained unchanged quarter-on-quarter at 238 carats. Consequently, the tin concentrate production decreased to 364 tonnes, resulting in a decrease in contained tin to 223 tonnes. However, the year-on-year tin concentrate and contained tin tonnages marginally increased, reflecting the positive impact of the financial year 2023 expansion project.
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