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Andrada Mining Ltd on Friday said it entered its new financial year with momentum at a time of ‘buoyant’ tin prices, as it posted an annual revenue jump and a narrowed loss. The tin and tantalum producer in Namibia said pretax loss narrowed to £8.5 million in the financial year ended February 28, from £8.9 million a year ago. Revenue climbed 32% to £23.8 million from £18.0 million. Ore processed was up 5.4% to 965,058 tonnes in financial 2025, from 915,599 tonnes a year ago. Notably, the average realised tin price jumped 21% in financial 2025 to $31,081 per tonne from $25,593 per tonne a year prior. Cost of sales increased 28% to £20.8 million from £16.2 million. Administrative costs came down 4.7% to £9.5 million from £10.0 million. Finance expenses ballooned to £6.3 million from £1.7 million. The company reported a one-off gain on loss of control of £1.6 million for financial 2025. Further, it had other income of £991,026 in financial 2025, up from just £97,415 a year prior. Chief Executive Officer Anthony Viljoen said: ‘We are proud to have delivered record revenues, higher tin recoveries, and a sevenfold increase in tantalum output, while advancing Lithium Ridge with SQM and expanding our resource base. Post year-end, the commissioning of the jig plant, the investment by Talent10, and the Goantagab ore supply agreement provide immediate growth levers at a time of buoyant tin prices.’ ‘We enter FY2026 with momentum, a clear plan, and the right partnerships to transform Andrada into a leading African supplier of critical minerals for the energy transition.’ SQM, namely Sociedad Quimica y Minera de Chile SA, according to Andrada Mining is the world’s largest lithium chemical producer. Back in September 2024, SQM through its subsidiary SQM Australia Pty Ltd, entered into a three stage earn in agreement to partner with Andrada Mining in developing the Lithium Ridge asset, located about 35 kilometres from the Uis tin mine in Namibia. Andrada Mining shares rose 5.7% to 3.17 pence each on Friday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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