Andrada’s interim results shows 35% decrease in operating loss

Andrada Mining’s half-year results “demonstrate meaningful improvements in cost performance, cash discipline, and operating leverage, which collectively support the delivery of our growth strategy”.

This is how Andrada CEO Anthony Viljoen described its interim results for the six months ended 31 August 2025.

He went to say, “The combination of developmental and operational assets featuring a suite of critical minerals including tin, tantalum, lithium, tungsten and copper, located in an investment-friendly jurisdiction, position the group as a strategic source of future supply.”

Highlights of the first half of the 2025/2026 financial year for this emerging African critical minerals miner with a portfolio of  exploration, development and early-stage production assets in Namibia include:

Operational: sustained production growth

• Ore processed: increased by 10% Year-on-Year (“YoY”) to 527 583 tonnes (H1 FY2025: 481 504 tonnes).
• Tin concentrate: increased 14% YoY to 858 tonnes (H1 FY2025: 752 tonnes).
• Tantalum concentrate: increased by 12% to 27 tonnes (H1 FY2025: 24 tonnes).

Financial: improved margins

• Revenue: increased by 12% to £12.2 million (H1 FY2025: £10.8 million).
• Operating loss improvement: decreased by 35% YoY to £0.9 million (H1 FY2025: loss of £1.5 million).
• Average tin price: increased by 6% to US$33 154 per tonne (H1 FY2025: £31 397).
• Corporate restructure: administrative expenses decreased by 26% to £3.7 million (H1 FY2025: £5.0 million).

Projects & Partnerships: primed for rapid expansion

• Growth platform: engineering investment over last 12 months provides a foundation for accelerated growth.
• Uis Mine Ore Sorter project: reengineered the pre-concentration circuit for tin and tantalum ready for final construction phase.
• Uis Mine lithium expansion project: projected to enter Definitive Feasibility Study (“DFS”) phase during 2026.
• Uis Mine exploration upside: multiple notable drilling results for targets proximal to the current mining pit with high-grade intersections of up to 1.13% tin and 1.76% lithium oxide.
• Jig Plant: construction of processing plant for treatment of third-party high-grade ore and Uis ore completed in August 2025.
• Lithium Ridge: lithium exploration programme commenced at Lithium Ridge for potential mineral resource development, in partnership with SQM Australia (Pty) Ltd.
• Talent10: a new strategic shareholder at 8% interest aligning with Andrada’s strategy to secure long-term institutional support.

In terms of safety performance Viljoen commented:

“We continue to improve meaningfully, supported by several targeted initiatives including quarterly safety audits, Visible Felt Leadership engagements, and our Elimination of Fatalities programme. These efforts, combined with the commitment of our operational teams, have enhanced our safety culture. During the period, no fatalities were recorded, the LTIFR improved from 1.74 in H1 FY2025 to 0.00 and the TRIFR reduced from 6.50 to 4.53.

“Ongoing employee training sessions and capacity building have also been central in strengthening our safety culture and enhancing overall workplace safety. As we approach the traditionally high-risk festive season, we are implementing enhanced safety measures with added vigilance to ensure that the strong performance achieved to date is maintained.”