EU facility supports Uis project
Andrada Mining Limited has entered into a cooperation agreement with the European Investment Bank (EIB) to help accelerate and advance its Uis Lithium Expansion Project.
Under the terms of the agreement, the project will benefit from technical and project development assistance through a facility funded by the European Union (EU).
The scope of work is designed to advance the project to bankable feasibility level and support Andrada’s pathway to becoming a long-term supplier of lithium into global green energy supply chains.
The EIB partnership provides technical and institutional support for Andrada’s lithium development strategy at Uis Mine. Consulting services valued at up to €2 million (N$37.9 million) will be provided through the Critical Raw Materials Technical Assistance Facility, funded under the EU-OACPS Technical Assistance Facility on Critical Raw Materials (CRMs).
The project aims to produce 50,000 tonnes per annum (tpa) of lithium concentrate from Andrada’s Uis Mine.
Andrada Mining managing director Anthony Viljoen said the partnership would help accelerate the miner’s lithium development strategy.
“This partnership with the European Investment Bank is a major milestone for Andrada. It materially accelerates our lithium development strategy while validating Uis as a strategically important asset within the global critical minerals supply chain,” Viljoen said.
According to him, by materially accelerating the lithium project stream at Uis, with a clear objective of reaching bankable feasibility level, the company is well positioned to become a recognised source of lithium.
“The Project will deliver strong local economic and social benefits for Namibian citizens, growing our existing contribution whilst positioning Andrada at the centre of the EU's critical mineral supply framework. Ultimately, this Project will advance our critical mineral offering, enhance long-term shareholder value and contribute meaningfully to the Namibian economy,” he said.
The EIB will act as administrator of the facility and will be responsible for the appointment and management of consultants to execute the feasibility study.
Andrea Clerici, director for corporates and global activities at the EIB, said lithium has been recognised as a critical mineral resource, providing scope for the EIB’s involvement.
“Lithium is recognised as both a critical and strategic raw material under the Critical Raw Materials Act, and the EIB is increasingly backing projects that diversify CRM supply. Our partnership with Andrada is aimed at developing investor attractive projects that will maintain high environmental and social standards, while being mutually beneficial for both African and European partners,” Clerici said.
