AfriTin Mining Ltd COVID-19 Update (2508I)
March 31 2020 - 7:20AM
UK Regulatory
TIDMATM
RNS Number : 2508I
AfriTin Mining Ltd
31 March 2020
31 March 2020
AfriTin Mining Limited
("AfriTin" or the "Company")
COVID-19 Update
AfriTin Mining Limited (AIM: ATM), a tin mining company with a
portfolio of assets in Namibia and South Africa, provides an update
on it s business, following the global outbreak of the COVID-19
virus and new legislation brought forward by the Government of
Namibia.
In order to tackle the spread of COVID-19, The Republic of
Namibia announced a 21-day lockdown beginning at 23:59 on Friday 27
March and ending at 23:59 on 16 April 2020.
Under the government legislation, mining operations are
categorised as critical economic services and are able to continue
minimum operational activity including critical maintenance work.
To comply with this directive, the Uis Tin Mine will suspend mining
from the open pit but continue feeding the processing plant from
the run-of-mine stockpile during this period. The Company has more
than two months' worth of production on its stockpile and does not
believe this will have a detrimental impact to the progress at
site.
As part of the debottlenecking of the processing plant announced
in February 2020, the Company scheduled a plant shutdown to
implement the required modifications. These activities will
continue under the current restrictions, although the risk of
supply chain disruptions may impact on the scope and timing of the
plant shutdown.
The Company plans to export the next shipment of tin concentrate
from Walvis Bay by mid-April 2020. As it currently stands, the
relevant port and smelter operations continue to move and accept
tin concentrate. If further information to the contrary becomes
available, the Company will update the market accordingly.
The health and safety of all AfriTin's employees is of paramount
importance and the Company has taken all necessary steps to
mitigate any possible outbreak, including the monitoring of its
employees for any symptoms, social distancing and hand hygiene. The
mine site is not near any major metropolis areas where the virus
appears to spread with ease. Where possible, the Company's
employees are working from home and all international travel, as
well as travel to and from Namibia, has been banned until at least
the 16(th) April 2020.
There are no confirmed cases of COVID-19 across the Company's
operations to date.
Anthony Viljoen, CEO of AfriTin Mining Limited commented:
"These are unprecedented times for both the mining sector and
the world as a whole. The health and safety of our employees and
communities is a main focus and the company is following all WHO
and Namibian national health guidelines to ensure this remains the
case.
"We will operate at a minimal mining and processing activity. I
also take comfort in the fact that the mine is isolated, with very
little movement of people through the area. Having said this, we
are taking no chances and are ensuring the strictest hygiene and
social distancing levels across the business and continue
monitoring all of our employees for any symptoms of the virus.
"I'd like to thank all our employees, shareholders and the
Government of Namibia for their continued support, in what is a
truly challenging time."
For further information, please visit www.afritinmining.com or
contact:
AfriTin Limited
Anthony Viljoen, CEO +27 (11) 268 6555
Nominated Adviser and Joint Broker
WH Ireland Limited
Katy Mitchell
Adrian Hadden
James Sinclair-Ford +44 (0) 207 220 1666
Corporate Advisor and Joint Broker
Hannam & Partners
Andrew Chubb
Jay Ashfield
Nilesh Patel +44 (0) 20 7907 8500
Joint Broker
NOVUM Securities Limited
Jon Belliss +44 (0)20 7399 9400
Financial PR (United Kingdom)
Tavistock +44 (0) 207 920 3150
Jos Simson
Barney Hayward
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining is the first pure tin company listed in London
and its vision is to create a portfolio of globally significant,
conflict-free, tin-producing assets. The Company's flagship asset
is the Uis Tin Mine in Namibia, formerly the world's largest
hard-rock tin mine.
AfriTin is managed by an experienced board of directors and
management team with a current two-fold strategy: fast track Uis
Tin Mine in Namibia to commercial production in 2020 as Phase 1,
ramping up to 5,000 tonnes of concentrate in a Phase 2 expansion.
The Company strives to capitalise on the solid supply/demand
fundamentals of tin by developing a critical mass of tin resource
inventory, achieving production in the near term and further
scaling production by consolidating tin assets in Africa.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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