AfriTin to expand plant with bank loan

Company to increase tin capacity by 67%
AfriTin to expand plant with bank loan AfriTin to expand plant with bank loan AfriTin to expand plant with bank loan AfriTin to expand plant with bank loan AfriTin to expand plant with bank loan

Company to increase tin capacity by 67%

AfriTin Mining, a South Africa-based tech-metals mining company, has received a loan of NAD 90 million ($5.54 million) to fund the expansion of the Uis Phase 1 processing plant in Namibia as part of a deal with Standard Bank Namibia.

The company said the expansion project consists of "a modular expansion" of the existing plant, which will raise tin concentrate production by 67% from 720 tonnes per annum to 1,200 tonnes per annum.

It explained that approximately 70% of the capital raised would be applied to expand the dry crushing and screening circuits, consisting mainly of a different secondary crusher and vibrating screen and a fine ore stockpile to decouple the continuation circuit from the concentrator.

Anthony Viljoen, chief executive officer of AfriTin Mining, said the funding marks the "start of a long-term financing partnership to continue the rapid development of the Uis Tin mine to its full potential" and grow the company's tech-metal revenue profile.