30 Dec 2022read more
StockMarketWire.com - AfriTin Mining said it would continue processing operations its Uis tin mine in Namibia, in line with new government restrictions.
The Namibian government on Friday implemented a 21-day lockdown, though mines were categorised as critical economic services that were able to continue minimum operational activity, including critical maintenance work.
AfriTin said the Uis operation would suspend mining from the open pit but continue feeding its processing plant from a run-of-mine stockpile during this period.
'The company has more than two months' worth of production on its stockpile and does not believe this will have a detrimental impact to the progress at site,' it added.
The company had already scheduled a plant shutdown, as part of a debottlenecking procedure announced in February.
'These activities will continue under the current restrictions, although the risk of supply chain disruptions may impact on the scope and timing of the plant shutdown,' it said.
'The company plans to export the next shipment of tin concentrate from Walvis Bay by mid-April 2020.'
'As it currently stands, the relevant port and smelter operations continue to move and accept tin concentrate.'
'If further information to the contrary becomes available, the company will update the market accordingly.'
At 2:27pm: [LON:ATM] Afritin Mining Limited Ord Npv share price was +0.23p at 1.95p. - Story provided by StockMarketWire.com
SOURCE: Stock Market Wire