Namibia lithium miner AfriTin plans expansion

AfriTin Mining, a Namibian mining company with a market capitalization of £80 million, is making a significant pivot in its operations by becoming the only AIM-quoted lithium producer in London. The company is marking this pivotal moment with a name change to Andrada Mining. CEO Anthony Viljoen sat down with CNBC Africa to discuss this transition and provide insights into the technology and battery metals industry. Viljoen emphasized that the shift towards lithium production signifies a period of growth and expansion for the company. While AfriTin has laid a solid foundation in tin production, the discovery of a significant lithium deposit presents a strategic opportunity to diversify the company's portfolio. Viljoen highlighted that the change in focus aligns with the increasing demand for lithium in electronic vehicles and mobile technologies. With the tin market performing well and cash flows strong, AfriTin is well-positioned to leverage its existing operations for modular additions to accommodate lithium production. The CEO also pointed out that Namibia is an attractive mining jurisdiction in Africa, offering a sound regulatory environment, abundant mineral deposits, and supportive infrastructure. In terms of market opportunities, Viljoen underscored the global demand for lithium, with China leading the charge in the production of batteries for electric vehicles. He emphasized the need for more lithium supply to meet the growing needs of the automotive industry in Europe, North America, and Scandinavia. Viljoen expressed confidence in AfriTin's competitive advantage in the lithium market, drawing attention to the potential for expansion within sub-Saharan Africa. Looking ahead, he projected a significant boom in mining development, particularly in the technology minerals sector. Viljoen highlighted the importance of sustainable mining practices, underscoring the need for collaboration with local communities and governments. While AfriTin's current focus remains on traditional mining operations, the company is exploring opportunities for innovation and research in mineral extraction technologies to enhance operational efficiency. As the mining industry evolves, Viljoen emphasized the importance of embracing new age mining practices to meet the changing demands of consumers and contribute to the sector's sustainable growth.