Andrada Mining has announces that the Namibian Competition Commission  has approved its earn-in agreement  with Sociedad Química y Minera de Chile SA.

Under the Agreement, SQM has the right to earn up to a 50% interest in Grace Simba Investments (Pty) Ltd (“GSI”), a wholly owned subsidiary of Andrada Mining (Mauritius) Limited, which holds the Lithium Ridge licence.

Anthony Viljoen, Chief Executive Officer, commented:
“We are delighted to receive the Competition Commission’s approval for the earn-in agreement with SQM. This approval is the final component required for us to fully launch what will be a transformative partnership with one of the world’s largest lithium chemicals producers. The Agreement will significantly accelerate our lithium to market strategy.

This is an exciting development for both Andrada and Namibia, SQM’s up to USD40 million foreign direct investment will not only expedite the development of the spodumene-rich Lithium Ridge but should also drive socio-economic growth in the Erongo region. This strategic partnership will create direct and indirect employment opportunities, enhance local skills development, and strengthen local procurement of goods and services.

With this approval secured, our exploration team is fully prepared to execute the first phase of the agreement. This is undoubtedly a pivotal moment in the Company’s trajectory to becoming a leading African producer of critical raw materials.”