AfriTin Mining (ATM.L) continues to further advance its Uis Tin Mine in Namibia and although the total amounts of tin that are sold remain low, there are some improvements noticeable. In the second quarter of Q2 FY 2022 (which ended in August), the company processed 127,000 tonnes of rock which is an increase of about 10% thanks to a combination of a higher plant availability and utilization in combination with a higher processing rate.
Unfortunately this did not result in a higher tin production. Although the total amount of concentrate produced increased by 1% to 185 tonnes, the total amount of tin in the concentrate decreased by approximately 1%. This appears to be caused by a lower feed grade into the processing plant as the average grade in Q2 was just under 0.14% compared to almost 0.17% in the preceding quarter. As the average life of mine feed grade was anticipated to be around 0.138% tin, we should consider the higher grade in Q1 to be an anomaly and the performance in Q2 seems to be a better representation of the project and the production process.
The company has started the Phase 1 expansion project which will increase the tin concentrate production by about 2/3rds, and the expansion should be commissioned in Q2 2022.
Disclosure: The author has no position in AfriTin Mining. Please read our disclaimer.
