StockMarketWire.com - Tin mining company AfriTin Mining said it had achieved first production of tin concentrate at its flagship Uis Tin Mine in Namibia. The company also said it had entered into an offtake agreement with Thailand Smelting and Refining Co.

The company said it would now focus on ramping up capacity to 500,000 tonnes of ore per annum, which would produce approximately 60 tonnes of tin concentrate per month by the end of fourth quarter of the year. Tin production comes after the company announced the completion of the phase 1 pilot plant on 26 July 2019 and that hot and cold commissioning were nearing completion ahead of production ramp-up.

The company also announced that it had concluded an offtake agreement with Thaisarco for tin concentrate produced from the Uis Tin Mine. The 1-year offtake agreement enabled AfriTin to sell its tin concentrate and secure revenue for the next 12 months with an option to extend the contract.

The offtake agreement specified pre-agreed concentrate deliverables which were in line with the project ramp-up and design specification of the plan, the company said.

'Having produced first tin concentrate, concluded an offtake agreement and secured a working capital facility for the ramp-up phase of the Pilot Plant, AfriTin is on track to create the first revenue-generating, conflict-free asset in our portfolio,' AfriTin said.




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