Andrada Mining Ltd shares moved higher on Thursday, after reporting that construction of the second processing facility at the Uis mine in Namibia has been completed on schedule and within budget.
The new Jig Plant will begin commissioning in the final week of August, it confirmed.
The facility is designed for a capacity of 80 to 100 tonnes per hour, with potential to process 40,000 tonnes of ore per month at up to 70% recovery rates, and, helps move the miner closer to its target of doubling production.
“The completion of the Jig Plant on time and within budget is a smart, low-cost upgrade that will immediately boost Uis tin production on the completion of commissioning,” said chief executive Anthony Viljoen.”The plant is a key milestone towards doubling production and positions Andrada well to capture the benefits of a robust and strengthening tin market.”
In London, Andrada shares climbed just over 4%, changing hands at 3.02p.