Appointment of Directors

Andrada Mining Limited

10 May 2023

 

10 May 2023

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon publication of this announcement via Regulatory Information Services (RIS), this inside information is now considered to be in the public domain.

Andrada Mining Limited

("Andrada" or the "Company")

Appointment of Directors

Andrada Mining Limited (AIM: ATM), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia, is pleased to announce the appointment to the board of Hiten Mohanlal Ooka, the Chief Financial Officer ("CFO"), as Executive Director and Gida Nakazibwe Sekandi as Non-Executive Director, with immediate effect.

Glen Parsons, Andrada Mining board Chairman remarked, "On behalf of my fellow directors, I would like to welcome both Ms Gida Sekandi and Mr Hiten Ooka to the board. Andrada is rapidly growing into a major tech-metals producer. Therefore, Gida's extensive regional knowledge as well as experience in sustainability and ESG requirements in mining and financial services industries and Hiten's broad experience in strategic funding structures, mergers & acquisitions and governance will contribute to Andrada implementing appropriate and leading practices as it grows and reaches its stated objectives."

Hiten (42) joined Andrada as CFO in July 2022 following a three-year tenure as the Group Head of Finance at the AIM-listed Bushveld Minerals, during which time he positively transformed the finance and governance functions. In the past 15 years, he has held senior financial management roles at multinational mining and trading groups, including as Head of Finance at Eurasian Resources Group (Africa) and Group Financial Manager at Trafigura (Mining Division). Hiten is a Chartered Accountant registered with the South African Institute of Chartered Accountants.

Gida (70) is a qualified lawyer and accomplished businessperson with extensive executive and operational experience spanning 28 years in well-known entities in the mining, financial services, and private equity sectors, both within Namibia and internationally. She honed her mining experience over 13 years at the former Rio Tinto operation, Rossing Uranium Mine located in Swakopmund, Namibia where she managed the communications strategy ultimately rising to the position of Head of Corporate Affairs and Communications. Importantly, Gida has over 15 years board experience in listed entities and is currently an independent, non-executive director and chairperson of the Sustainability and Ethics Committee of the Capricorn Limited Group board. She also serves on several other boards including Alpha Namibia Industries Renewable Energy Power Limited ("ANIREP"), the first energy company listed on the Namibian Stock Exchange. ANIREP is largely expected to play a leading role in the production of solar energy in Namibia, as a substitute for the electricity imported from South Africa.

She volunteers at several non-profit organisation boards including Woman@Work and is a life member of the Namibian Institute for Corporate Governance. Gida will serve on Andrada's ESG board committee whose mandate is to ensure that best practices are embedded in the Company's operations. To date, the committee has been instrumental in the development of the ESG strategy, compliance systems and policies.

Both Hiten Ooka and Gida Sekandi are to receive share options as part of their remuneration package as directors of the Company. A further announcement will be made in due course when the details of these awards are confirmed.

The following information is disclosed pursuant to paragraph (g) Schedule two of the AIM Rules for Companies.

Hiten Mohanlal Ooka's directorships and partnerships in the last five years are as follows:

Current directorships

UIS TIN MINING COMPANY (PTY) LTD

ANDRADA MINING NAMIBIA (PTY) LTD (previously AfriTin Mining Nambia (Proprietary) Limited)

Past directorships

AFRICA TECHNICAL SERVICES LIMITED

ERG TREASURY - AFRICA LIMITED

SABOT HOLDING SA (PTY) LTD

SABOT PROPERTIES SA (PTY) LTD

SABOT SA (PTY) LTD

Gida Nakazibwe Sekandi's directorships and partnerships in the last five years are as follows:

Current directorships

Listed entities.

CAPRICORN GROUP LTD

CAPRICORN INVESTMENT HOLDINGS LTD

BANK WINDHOEK LIMITED

ALPHA NAMIBIA INDUSTRIES RENEWABLE POWER LIMITED (PROPRIETARY) LIMITED

Non-listed entities
WELWITSCHIA INSURANCE BROKERS (PTY) LTD
ENTREPO FINANCE (PTY) LIMITED
ENTREPO LIFE LIMITED
LEWICOR HOLDINGS (PROPRIETARY) LIMITED
NAM-MIC SOLUTIONS (PROPRIETARY) LIMITED (Ms Sekandi is in the process of resigning from this company)

Interests in community initiatives and  women empowerment entities
BFS AFRICA FUND MANAGEMENT 1 (This company is in the process of deregistration)
PAUA PROPERTY LIMITED
TUNGENI AFRICA PROPERTY DEVELOPERS (PROPRIETARY) LIMITED
THE MEN ON THE SIDE OF THE ROAD PROJECT
CAPRICORN FOUNDATION
EDUARDO DOS SANTOS FOUNDATION
NAMDEF BUSINESS CONSULTANCY SERVICES
GROOTFONTEIN FOOD AND BEVERAGE (PROPRIETARY) LIMITED
SWAKOPMUND TOURISM MARKETING FONDATION (NFG)
MERIDA INVESTMENTS CC
NAMIBIA ART CRAFT AND DESIGN (Ms Sekandi is in the process of resigning from this company)

Sole directorships

BERTINA VILLAGE SELF CATERING UNIT TEN CC
BERTINA ARCHBISHOP SELF CATERING UNIT SIX CC

BARTINA TOURS AND CONCIERGE SERVICES CC
BERTINA PROPERTIES CC

DOMINO DELTA GROUP CC

ISTOBLOX (PTY) LIMITED

PLP AFRICA PTY LIMITED

VILLA INVESTMENT CC

Past directorships

NAM-MIC FINANACIAL SERVICES HOLDINGS (PROPRIETARY) LIMITED
ARCHBISHOP'S CLOSE UNIT SIX PROPERTY CC
ALLEGROW FUND (PROPRIETARY) LIMITED
HANGALA GROUP (PROPRIETARY) LIMITED
There is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules.

Andrada Mining Limited	[phone]
Anthony Viljoen, CEO Sakhile Ndlovu, Head of Investor Relations
Nominated Adviser	[phone]
WH Ireland Limited Katy Mitchell
Corporate Advisor and Joint Broker
H&P Advisory Limited Andrew Chubb Jay Ashfield Nilesh Patel	[phone]
Stifel Nicolaus Europe Limited	[phone]
Ashton Clanfield Callum Stewart Varun Talwar
Tavistock Financial PR (United Kingdom)	[phone]
Emily Moss Catherine Drummond Adam Baynes

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About Andrada Mining Limited

Notes to editors.

Andrada Mining Limited is a London-listed technology metals mining company with a vision to create a portfolio of globally significant, conflict-free, production and exploration assets. The Company's flagship asset is the Uis Mine in Namibia, formerly the world's largest hard-rock open cast tin mine.  Lithium laboratory test work completed during the 2022 calendar year indicated a high-grade, ultra-low iron lithium petalite concentrate. The test work to convert lithium petalite concentrate to battery-grade lithium hydroxide was initiated with Nagrom, a leading Australian processing company, and commercial engagements with lithium petalite concentrate off - takers are on-going.

An exploration drilling programme is currently underway with the aim of expanding the tin resource over the fourteen additional, historically mined pegmatites, all of which occur within a 5 km radius of the current processing plant. The Company has set a mineral resource target of 200 Mt to be delineated within the next 5 years. The substantial mineral resource potential of the license portfolio allows the Company to consider economies of scale.

Andrada is managed by a board of directors with extensive industry knowledge and management team with extensive commercial and technical skills. Furthermore, the Company is committed to the sustainable development of its operations and the growth of its business. This is demonstrated by the way the leadership team places significant emphasis on creating value for the wider community, investors, and other key stakeholders. Andrada has established an environmental, social and governance system which has been implemented at all levels of the Company and aligns with international standards.

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