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The lithium bulk testing pilot facility is progressing consistently in Andrada Mining and is expected to be completed as per the schedule. The lithium pilot plant project anticipates its completion of construction in June 2023.
The lithium bulk testing pilot facility is progressing consistently in Andrada Mining and is expected to be completed as per the schedule. The lithium pilot plant project anticipates its completion of construction in June 2023. The project is beyond the halfway mark with all long lead equipment ready for shipment to the mine. Most of the equipment and machinery for the plant are being manufactured off-site and the earthworks have been completed. Initial revenue options are being evaluated such as the potential output of a lithium concentrate from the lithium bulk-testing facility.
This comes as the NSX-listed Andrada Mining, formerly AfriTin Mining, produced 361 metric tonnes of tin concentrate in the three months ended 28 February, from 145 tonnes in the prior quarter. Now the company shows its pivot towards a focus on lithium production, having previously treated lithium as a by-product, which is becoming increasingly more relevant amid the rise in the lithium price over the past year.
Andrada’s Chief Executive Officer Anthony Viljoen said the company made excellent progress in realising the significant economies of scale inherent in this uniquely large ore body. These economies of scale and the bringing online of lithium production will rapidly enhance the value of this outstanding asset over the coming months.
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The company made significant progress towards fulfilling the precedent conditions for financing with the Orion and Development Bank of Namibia. The conditional finance arrangements for Orion and Development Bank of Namibia, previously announced on 5 July 2022, 15 September 2022, and 17 November 2022, have been combined into a single legal workstream to reduce the timeline to financial closure. The Company still expects to complete the process by the end of May 2023.
