Aim-listed Andrada Mining, a critical raw materials producer, announced a 15% year-on-year increase in contained tin production, reaching 232 tonnes for the third quarter of the 2025 financial year, ending November 30.
The company processed 239,240 tonnes of ore during the quarter, marking a 5% increase compared to the 228,234 tonnes processed during the same period in FY2024.
Enhanced plant performance was a key driver of this growth, with the tin recovery rate rising 12% year-on-year to 74% and plant utilization improving to 93%, up from 86% in the previous year.
Andrada also benefitted from a 26% year-on-year increase in the average tin price, which stood at $31,266 per tonne during the quarter.
Tantalum production remained steady, with approximately 16 tonnes of saleable concentrate produced at a grade of 10.9% tantalum pentoxide (Ta₂O₅).
Operating costs during the quarter slightly exceeded projections, with the average C1 cash cost at $22,008 per tonne of contained tin and the all-in sustaining cost (AISC) at $30,779 per tonne.
The increase was attributed to higher processing and maintenance expenses linked to engineering upgrades at the Uis mine in Namibia.
Year-to-date costs for the nine months ended November 30 remained within guidance, with C1 costs at $19,727 per tonne and AISC at $28,575 per tonne.
Andrada’s available cash as of November 30 was £2.6 million ($3.3 million), reflecting one-off value-added tax (VAT) payments for imported equipment and ongoing expansion projects.
The company anticipates reclaiming most of the VAT and receiving a $1.5 million payment from SQM Lithium upon regulatory approval of the Lithium Ridge agreement.
CEO’s Remarks
Andrada CEO Anthony Viljoen highlighted the company’s progress in operational efficiency and production growth. “Our continuous improvement programme has been pivotal in delivering these results.
We remain strategically focused on enhancing operational efficiencies, expanding tin concentrate production, and reducing costs,” Viljoen stated.
He expressed confidence in the global tin and lithium markets, which are expected to see further price increases due to constrained supply.
