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Afritin reports off-take deal after Uis mine starts tin concentrate output

Afritin Mining Ltd. produced first tin concentrate at its flagship Uis mine in Namibia, where phased commissioning started late May.

The company said Aug. 19 that it will now focus on ramping up the plant to its design capacity of 500,000 tonnes of ore per annum. The plant will produce about 60 tonnes of tin concentrate per month by the end of the fourth quarter.

AfriTin also entered a one-year tin off-take agreement with Thailand Smelting & Refining Co. Ltd.

The agreement specifies pre-agreed concentrate deliverables, which are in line with the project ramp-up and design specification of the plant.

Thailand Smelting will pay on the basis of actual tin content in the concentrate per AfriTin's analysis at a lowest London Metal Exchange price, less treatment charges, unit deductions and impurity charges.

Company shares were up more than 7% in early morning London trade.