[SMM Tin Flash: Thaisarco extends US$3m advance to Andrada under expanded tin offtake deal]

Published: Feb 25, 2026 16:45

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Andrada Mining's subsidiary UTMC expanded its exclusive tin offtake agreement with Thaisarco. Thaisarco will provide a US$3 million (N$48M) unsecured, interest-free advance this week as a prepayment against future sales to fund the Uis mine's capacity expansion. In return, Thaisarco secures exclusive purchasing rights for all Uis tin concentrate, including approved third-party feedstock. Repayment is at UTMC’s discretion, mandated only by control or legislative changes. Voluntary redemption within two years requires 90 days' notice and a 30% fee of US$900,000. After two years, redemption needs 60 days' notice for the principal only. CEO Anthony Viljoen stated the deal reflects a strong partnership, UTMC’s excellent performance, and rising global tin demand.

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