Andrada Mining has announced that a four-tonne sample of lithium concentrate from its Uis Mine in Namibia will soon depart from Walvis Bay, bound for Japan for test work by a potential off-taker.
The concentrate, which contains petalite, a lithium-rich mineral, is highly valued for its use in battery technology and industrial applications.
“We are excited to share another milestone in Andrada’s lithium journey! This four-tonne bulk sample of petalite concentrate from our Uis Mine is set to depart Walvis Bay for Japan.
This shipment is for test work by a potential off-taker, marking an important step toward securing a supply agreement,” the company stated.
The announcement follows the company’s recent success in securing a N$48 million (US$2.5 million) funding facility from LC Abelheim Limited (LCA), acting as trustee of The Orange Trust. The funding will be used to construct a second tin processing jig plant at the Uis Mine in Namibia.
The loan agreement has a six-month term, with an option for extension. No interest is payable on the loan; instead, a facility fee of N$917,000 (US$50,000) per month will be charged, with the first two months’ fees capitalized and repaid in the third month as a cumulative sum of N$1.8 million (US$100,000). The total facility fee for the six-month period amounts to N$5.5 million (US$300,000).
Andrada is required to repay a total of US$2.6 million, with an initial payment of N$1.8 million (US$100,000) for the capitalized fees, followed by a final repayment of N$47 million (US$2.5 million) representing the principal loan amount. The loan is secured against the newly procured plant.
CEO Anthony Viljoen confirmed the agreement, stating that The Orange Trust is Andrada’s largest shareholder, holding 15.81% of the company’s issued ordinary shares.
He explained that the new plant provides a modular pathway to scale up operations within the existing mining footprint, while the company continues evaluating new pits and validating historical resources.
Viljoen also emphasized that the new plant will operate independently, ensuring no disruption to ongoing mining activities or the expansion aimed at boosting tantalum and lithium revenues at Andrada’s primary plant.
