Andrada Mining Limited has secured US$11 million (about £8.1 million or roughly N$206 million) through a strategic equity placement to fast-track expansion at its Uis tin operation in Namibia and capitalise on strong commodity prices.
The AIM-listed miner raised the funds through the placement of 226.3 million new shares at 3.6 pence each, representing a 10% discount to its last closing price of 4.0 pence on 17 April 2026.
Chief executive Anthony Viljoen said the funding comes at a critical stage for the company.
“The completion of this placement with some key strategic investors, comes at a pivotal juncture for Andrada. The funding allows the company to scale up operations and advance various growth initiatives, whilst deriving maximum benefit from the high commodity price environment,” Viljoen said.
The capital injection is aimed primarily at accelerating production growth at Andrada’s flagship Uis mine, one of Namibia’s largest tin operations.
Funds will be used to expand crushing capacity to increase throughput, accelerate stripping activities to access ore more quickly, and update resource and reserve estimates as the company moves to strengthen operational performance.
These upgrades are expected to improve output and support stronger cash flow as Andrada positions itself within the global critical minerals supply chain.
Viljoen said the raise effectively completes the group’s current equity funding requirements.
“This funding, along with current tin prices and production provides the pathway for the Company to complete its expansion programme at Uis,” he said.
Beyond tin, Andrada is advancing a broader portfolio of critical minerals projects in Namibia.
Exploration programmes at Lithium Ridge and Brandberg West are already funded through strategic partnerships with SQM and BWCAM, allowing the company to diversify into lithium and other battery metals without additional equity pressure.
The placement, led by Zeus Capital and H&P Advisory as joint bookrunners, brings in strategic investors at a time when demand for critical minerals remains strong.
The company said the funding will enhance institutional backing while accelerating its transition into a scaled, multi-commodity producer.
The new shares are expected to be admitted to trading on the London Stock Exchange’s AIM market on 23 April 2026, increasing the company’s total issued share capital to about 2.2 billion shares.
The fundraising positions Andrada to expand output into a favourable pricing environment for tin and other critical minerals, which are increasingly linked to global electrification and energy transition demand.
