Andrada Mining
Andrada Mining Limited is an emerging producer of critical raw materials, strategically focused on supplying tin, tantalum, and lithium to the global market. Headquartered in Guernsey, with operations in Namibia, Andrada is positioned as a key player in the transition to a sustainable future by providing essential minerals for the technology, renewable energy, and electric vehicle industries.
The company operates the Uis Mine, historically one of the world’s largest open-cast tin mines, which has been revitalized with a modernized production strategy. Andrada is leveraging its significant mineral resource base, including 138 million tonnes of tin, lithium, and tantalum-bearing pegmatites, to become a globally significant producer of these high-demand metals.
With a strong commitment to sustainability, Andrada integrates environmental, social, and governance (ESG) principles into its operations. The company’s strategy includes the expansion of renewable energy solutions, responsible water and waste management, and active community engagement. Backed by a seasoned leadership team with deep industry expertise, Andrada Mining is well-positioned to drive long-term growth while contributing to the global shift toward a low-carbon economy.
Andrada Mining Analyst Notes
Opportunity
Andrada Mining presents a great investment opportunity as a rapidly growing producer of critical raw materials essential to the global energy transition. With a diversified portfolio of tin, tantalum, and lithium assets, the company is strategically positioned to benefit from surging demand in industries such as electric vehicles, battery technology, and high-performance electronics.
The company’s flagship Uis Mine in Namibia offers a significant resource base, with a 138-million-tonne mineralized pegmatite swarm, making it one of the largest known hard-rock lithium and tin deposits globally. Andrada is rapidly expanding its lithium production capabilities, supported by a strategic partnership with SQM, a world leader in lithium production, which provides both financial backing and technical expertise.
With Namibia’s stable, mining-friendly jurisdiction, Andrada benefits from supportive government policies, existing infrastructure, and a favorable regulatory environment. The company’s commitment to ESG principles and its integration of renewable energy further enhance its long-term sustainability and investment appeal.
As global markets face increasing supply constraints for critical minerals, Andrada Mining is well-positioned to capitalize on this demand surge, providing investors with exposure to a high-growth sector with strong fundamentals and a clear path to expansion.
Summary
Management Team
Andrada Mining Limited is led by an experienced management team with deep expertise in mining operations, resource development, finance, and sustainability. The leadership team brings a proven track record in executing large-scale mining projects, ensuring operational excellence, and driving strategic growth in the critical minerals sector.
- Anthony Viljoen – Chief Executive Officer
A seasoned mining entrepreneur with over 20 years of experience operating across Africa, Anthony Viljoen has been instrumental in the development of multiple resource projects. As a co-founder of Bushveld Minerals and former CEO of Lemur Resources, he brings a wealth of expertise in mining strategy, project execution, and capital markets. - Hiten Ooka – Chief Financial Officer
A qualified chartered accountant, Hiten Ooka has over 15 years of experience in financial management within the mining sector. He has held key positions at Bushveld Minerals, Rand Uranium, Trafigura, and Eurasian Resource Group, overseeing financial planning, risk management, and corporate finance initiatives. - Frans van Daalen – Chief Strategy Officer
A qualified mining engineer with over 20 years of experience, Frans van Daalen specializes in strategic planning and operational efficiencies. As a co-founder and former director of VBKom, a leading mining consultancy, he brings valuable expertise in mine optimization and project development. - Chris Smith – Chief Operating Officer
With over 36 years of experience in mining operations and chemistry, Chris Smith has a strong background in process optimization, team leadership, and sustainable resource extraction. His expertise ensures that Andrada’s operations run efficiently while maintaining the highest environmental and safety standards.
This executive team is supported by a seasoned Board of Directors with extensive experience in mining, corporate governance, and capital markets. Together, they are driving Andrada Mining’s growth strategy, positioning the company as a leading supplier of critical raw materials for the global economy.
Growth Strategy
Andrada Mining is executing a multi-faceted growth strategy focused on expanding its resource base, scaling production, and solidifying its position as a key supplier of critical raw materials. The company’s approach integrates sustainable development, technological innovation, and strategic partnerships to drive long-term value creation.
A core component of Andrada’s growth plan is the expansion of its tin, tantalum, and lithium operations at the Uis Mine in Namibia. The company is systematically increasing tin and tantalum concentrate output while advancing its lithium production through a phased development plan. The recently established partnership with SQM, a global leader in lithium production, further accelerates Andrada’s ability to supply high-quality lithium concentrate to industrial and battery markets.
To enhance its production capacity, Andrada is investing in infrastructure improvements, including renewable energy solutions, water desalination projects, and power grid integration. These initiatives not only improve operational efficiency but also align with the company’s commitment to environmental sustainability.
In parallel, exploration programs are underway across Andrada’s extensive land holdings, targeting additional mineralization within the Erongo Region, particularly at Lithium Ridge and Brandberg West. By expanding its resource base, the company aims to increase mine life and unlock further economic potential.
Strategic acquisitions and partnerships remain a key focus, enabling Andrada to diversify its mineral portfolio and pursue value-accretive growth opportunities. With a disciplined approach to capital allocation and risk management, the company is well-positioned to scale operations efficiently while maintaining financial flexibility.
Charts
Details
Financial Overview
Andrada Mining maintains a strong financial foundation, backed by a diversified funding strategy and a disciplined approach to capital management. The company has secured a mix of equity, debt, and strategic partnerships to support the expansion of its tin, tantalum, and lithium operations, ensuring long-term financial sustainability.
The company’s funding partners include Orion, Standard Bank, Development Bank of Namibia, and Bank Windhoek, which have provided structured financing solutions for infrastructure growth, operational enhancements, and working capital needs. Additionally, Andrada’s partnership with SQM includes a staged investment of up to US$40 million, further de-risking its lithium development strategy.
With an established revenue stream from tin and tantalum production at the Uis Mine, Andrada is actively working to optimize costs and increase margins. The company has successfully reduced operating costs, with its cost-cutting initiatives and improved plant efficiencies enhancing profitability.
Key financial highlights for FY2024 include:
- Revenue growth of 83% year-over-year, reaching £17.9 million.
- 54% increase in tin concentrate production to 1,474 tonnes.
- 60% increase in ore processed, demonstrating operational scalability.
- Gross profit turnaround, from a loss in the previous year to £1.7 million in FY2024.
- Secured funding for the construction of the lithium pilot plant and tantalum circuit, supporting future production expansion.
Risk Factors and Mitigation
Andrada Mining operates in a dynamic sector where multiple risks—ranging from commodity price fluctuations to regulatory challenges—can impact performance. The company has implemented a comprehensive risk management strategy to mitigate potential threats and ensure operational resilience.
Commodity Price Volatility
The prices of tin, lithium, and tantalum are subject to market fluctuations, which can affect profitability.
Mitigation: Andrada’s diversified mineral portfolio reduces dependency on a single commodity. Additionally, the company maintains offtake agreements with Thaisarco and AfriMet, securing consistent revenue streams and minimizing exposure to price swings.
Regulatory & Permitting Risks
Mining operations require compliance with environmental and governmental regulations, which can delay project timelines.
Mitigation: Andrada works closely with Namibian authorities and local stakeholders, ensuring compliance with legal frameworks and securing permits efficiently. The company also adheres to global ESG standards (ICMM, IFC) to maintain best practices in governance and sustainability.
Operational & Cost Risks
Mining projects face challenges such as rising operating costs, supply chain disruptions, and technical difficulties.
Mitigation: Andrada has implemented cost-optimization programs that have already led to a decrease in C1 operating costs. The company also invests in renewable energy solutions to reduce long-term energy expenses and enhance operational efficiency.
Funding & Financial Risks
Mining expansion requires substantial capital, and delays in securing funding could impact growth plans.
Mitigation: Andrada has established a strong financial backing through partnerships with Orion, Standard Bank, and SQM, ensuring access to growth capital. The company also maintains a balanced funding approach, combining equity, debt, and strategic investments to minimize dilution risks.
Conclusion
Andrada Mining Limited is poised to become a leading global supplier of critical raw materials, strategically positioned to meet the surging demand for tin, lithium, and tantalum. With a world-class asset base in Namibia, a strong financial foundation, and a commitment to sustainable mining, the company is well-equipped to drive long-term value creation for investors and stakeholders alike.
Through its scalable operations at the Uis Mine, ongoing resource expansion, and strategic partnerships with industry leaders like SQM, Andrada is accelerating its transition into a diversified producer of essential technology metals. The company’s focus on ESG principles, renewable energy integration, and responsible mining practices further enhances its competitive advantage in an industry increasingly driven by sustainability.
With a proven management team, a clear growth roadmap, and robust financial backing, Andrada Mining is set to play a crucial role in the global shift toward a low-carbon future. As the demand for critical minerals continues to rise, the company offers a compelling investment opportunity in a rapidly growing and strategically vital sector.
Stay Informed
