By Jaime Llinares Taboada
AfriTin Mining Ltd. on Thursday reported that its tin production increased 13% in the first quarter ended May 31. Here’s what the owner of the Uis mine in Namibia had to say:
On 1Q production:
“The company achieved a record quarterly performance at the Uis Mine for Q1 of FY2023. Tin concentrate production for the period under review totalled 239 tonnes. Tin contained in concentrate increased by 13% QoQ to 152 tonnes.”
“A total of 152 kt of ore was processed at an average processing rate of 99 tph. Processing plant efficiency as measured by overall tin recovery improved 5% QoQ to a record of 67%. The average plant feed grade for the quarter increased 9% QoQ due to natural orebody grade variations in the current mining area.”
“All-In Sustaining Costs for Uis Tin Mining Company (Pty) Ltd decreased by 16% to $23,526 (unaudited) per tonne of tin. This compares favourably with the realised average tin price of $34,367 achieved for the quarter. The improvement in AISC can be attributed to higher tin production and operational efficiencies. Secondary factors contributing to quarterly cost variations include exchange rate fluctuations and work-in-progress movements.”
On expansion works:
“The Phase 1 Expansion Project is on track for completion during Q3 of the current calendar year. The expansion is projected to increase tin production by approximately 60%. The main civil constructions work has been completed and steel construction work is currently in progress.”
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
