Andrada Mining Reports 34% Revenue Growth as Namibia Critical Minerals Strategy Gains Momentum
Namibia-focused Andrada Mining has reported a strong financial year to 28 February 2026, marking a major step in its transition from a single-asset tin producer into a diversified critical minerals company.
The London-listed company recorded improvements across its operational and financial performance, driven by stronger production at its Uis tin operation and continued development of its lithium, tungsten and copper assets.
Ore processed increased 8% year-on-year to 1.04 million tonnes, while tin concentrate production rose 15% to 1,740 tonnes. Contained tin production increased 13% to 1,036 tonnes, with tin recovery maintained at 72%.
Financially, revenue increased 34% to £30.1 million, while gross profit rose to £7.7 million, compared with £3 million in the previous financial year.
The company also reduced its operating loss from £3.9 million to £2.6 million, while EBITDA increased from £500,000 to £3.3 million.
Operating cash flow improved by £8.7 million to £4.7 million, allowing Andrada to move from cash consumption to cash generation.
Expanding Beyond Tin
Andrada’s strategy is increasingly centred on developing a portfolio of critical minerals across Namibia’s prospective Erongo mining district.
At Lithium Ridge, exploration drilling undertaken with Sociedad Química y Minera de Chile (SQM) confirmed high-grade lithium mineralisation alongside significant tin and tantalum mineralisation.
The company is also advancing Brandberg West, where a partnership with BWCAM, an affiliate of investment firm ACAM, is supporting exploration and assessment of the project’s historical tailings and its tungsten, tin and copper potential.
Meanwhile, Andrada entered into a cooperation agreement with the European Investment Bank (EIB) for up to €2 million in non-dilutive technical assistance to advance the Uis lithium expansion project towards a bankable feasibility study.
The company also strengthened its commercial position at Uis, with long-term tin offtaker Thailand Smelting & Refining Co (Thaisarco) securing exclusivity over all concentrate produced from the operation and providing a $3 million unsecured exclusivity payment.
Andrada’s financial performance and expanding mineral portfolio mark a significant shift in its strategy as it seeks to build a diversified critical minerals business centred on tin, lithium, tungsten and copper.
The company’s progress comes as Namibia seeks to expand its role in the global critical minerals supply chain, with Andrada positioning its Namibian assets to support growing demand for minerals essential to energy, technology and industrial applications.
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