Uis mine operator, Andrada, sees 33% revenue jump
Andrada Mining, the company behind the Uis mine in Namibia, has announced a year of exceptional growth and strategic progress for its financial year (FY) 2025. The company reported record revenues, increased production, and key partnerships that are set to solidify its position as a supplier of critical minerals for the global energy transition.
Record performance driven by operations and strong tin prices
The company's performance was strong across the board, with revenue rising by 33% to £23.8 million (N$566 million). This was bolstered by a significant 21% increase in the average realised tin price, reaching US$31,081 per tonne. Operational improvements at the Uis mine also played a vital role, with tin recovery rates climbing to 72% (up from 69%) and plant utilisation hitting 89% (up from 84%).
Andrada's contained tin production grew by 4.1% to 921 tonnes, while a sevenfold increase in tantalum output to 50.6 tonnes highlighted the successful diversification of its operations. The company also proudly reported a zero lost-time injury rate for the year, demonstrating a strong commitment to safety.
Strategic partnerships
A major highlight of the year was the transformational partnership with SQM, a global leader in lithium, which will see an investment of up to US$40 million into the Lithium Ridge project. This is a significant step in Andrada's strategy to develop its lithium resources.
Post year-end, the company has already secured several key milestones that provide "immediate growth levers," according to CEO Anthony Viljoen. These include the commissioning of the new jig plant at Uis, a £4.5 million (N$107 million) equity investment from Talent10, an African mining investor, and a high-grade tin ore supply agreement with Goantagab. The Goantagab agreement is set to supply up to 240,000 tonnes of ore annually, with a high tin grade of approximately 1.5%.
Financially, Andrada strengthened its position by securing a £7.5 million (N$175 million) multi-facility package from Bank Windhoek, demonstrating strong local support for its operations. This, along with the other strategic developments, positions the company for continued growth.
Record performance driven by operations and strong tin prices
The company's performance was strong across the board, with revenue rising by 33% to £23.8 million (N$566 million). This was bolstered by a significant 21% increase in the average realised tin price, reaching US$31,081 per tonne. Operational improvements at the Uis mine also played a vital role, with tin recovery rates climbing to 72% (up from 69%) and plant utilisation hitting 89% (up from 84%).
Andrada's contained tin production grew by 4.1% to 921 tonnes, while a sevenfold increase in tantalum output to 50.6 tonnes highlighted the successful diversification of its operations. The company also proudly reported a zero lost-time injury rate for the year, demonstrating a strong commitment to safety.
Strategic partnerships
A major highlight of the year was the transformational partnership with SQM, a global leader in lithium, which will see an investment of up to US$40 million into the Lithium Ridge project. This is a significant step in Andrada's strategy to develop its lithium resources.
Post year-end, the company has already secured several key milestones that provide "immediate growth levers," according to CEO Anthony Viljoen. These include the commissioning of the new jig plant at Uis, a £4.5 million (N$107 million) equity investment from Talent10, an African mining investor, and a high-grade tin ore supply agreement with Goantagab. The Goantagab agreement is set to supply up to 240,000 tonnes of ore annually, with a high tin grade of approximately 1.5%.
Financially, Andrada strengthened its position by securing a £7.5 million (N$175 million) multi-facility package from Bank Windhoek, demonstrating strong local support for its operations. This, along with the other strategic developments, positions the company for continued growth.
