Andrada Mining posts N$54.8 million profit in six months
By the AFREEQUE newsroom, based on Observer24
Andrada Mining made an after-tax profit of £2.5 million, or N$54.8 million, in the first half ended 31 August 2026, compared with a loss a year earlier. Revenue rose 80% as tin prices and production at the Uis mine increased, Observer24 reports.
Andrada Mining made an after-tax profit of N$54.8 million in the first half of its 2026 financial year, ended 31 August, compared with a loss of N$65 million a year earlier, Observer24 reports. The Namibia-focused critical minerals company attributed the improvement to higher tin prices and increased production at its Uis mine.
Revenue rose 80% to £20.6 million, while gross profit more than quadrupled to £8.3 million. Contained tin production increased 13% to 576 tonnes, and the average realised price rose 57% to US$52,131 per tonne. Cash stood at £15.6 million at the end of August, compared with £8.9 million on 28 February.
Chief executive Anthony Viljoen said improved operational performance at Uis had led to higher profits and cash generation. The company is also pursuing a funded expansion programme, including the installation of an ore-sorting circuit. This is expected to increase annual tin concentrate production by 50% to 70%, to between 2,500 and 3,000 tonnes; equipment is being prepared and the new crushing circuit is on its way to the mine.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
