Andrada Mining Limited, the African technology metals mining company with a portfolio of mining and exploration assets in Namibia has announced that today its subsidiary Uis Tin Mining Company (Pty) Ltd, has entered into a conditional, credit-approved N$175 million funding agreement with Bank Windhoek Limited.
The funding constitutes a N$100 million term loan and N$ 75 million in composite working capital and value-added tax facilities.
Anthony Viljoen, Chief Executive Officer, commented: “We are excited to partner with a respected Namibian owned financial institution like Bank Windhoek. This comprehensive agreement aligns perfectly with Andrada’s current and future funding needs.”
“The increased cash flow will empower us to execute key operational decisions. Notably, the improved working capital facility will better support our production increases year on year. We look forward to a collaborative relationship as we achieve our ambitious growth plans.”