Andrada Mining, a dual-listed entity, has finalized a binding agreement to restructure Uis Tin Mining Company (UTMC), the operational entity in Namibia holding ML133, ML134, and ML129 mining licenses.
The restructuring aims to streamline corporate operations and increase Andrada’s ownership in UTMC from 85% to 100% by acquiring the remaining 15% stake held by the Small Miners of Uis (SMU).
SMU, a nonprofit organization established to support Namibian economic development in historical mining areas, currently holds the 15% interest in UTMC.
Under the agreement, SMU will transfer a portion of its ownership to Sinco Investments Five, aligning with its mandate to empower local stakeholders in the mining industry.
Andrada Mining Namibia will subsequently acquire this 5% interest from Sinco, which prefers to hold listed shares of Andrada.
Sinco Investments Five focuses on advancing mining and construction projects in Namibia, collaborating across the mining value chain to promote local interests.
The restructuring not only simplifies Andrada’s ownership structure but also reinforces its commitment to local empowerment and sustainable development.
Anthony Viljoen, CEO of Andrada Mining, emphasized the strategic benefits of consolidating ownership, stating, “This transaction positions us to accelerate the development of our assets and engage more effectively with potential financing partners.”
As part of the restructure, Andrada Mining Namibia will divest its 85% interest in ML129 to SMU, enhancing SMU’s immediate involvement in regional economic growth.
Meanwhile, Andrada remains focused on developing its lithium strategy through ML134 at Uis and ML133 at Lithium Ridge, anticipating further partnerships in lithium processing for industrial applications.
The completion of this transaction is contingent upon regulatory approvals and consents, which Andrada’s directors expect to secure promptly.
Once finalized, Andrada will consolidate its operational control over UTMC and advance its strategic initiatives in Namibia’s mining sector.
This move underscores Andrada Mining’s ongoing commitment to local economic empowerment and strategic resource development in Southern Africa.
