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Andrada Clears Regulatory Hurdle to Advance Namibia’s Brandberg West
['Andrew Maramwidze']
Namibian Mining News
Aim listed Andrada Mining has secured Namibian Competition Commission approval for the earn in agreement between its subsidiary, Andrada Investments, and BWCAM, a subsidiary of natural resource partnership ACAM, clearing the way for accelerated development at the Brandberg West copper, tungsten and tin project.
Under the agreement, BWCAM could contribute up to US$51 million in staged funding to speed exploration and development of the Brandberg West polymetallic prospecting licence, held by Andrada’s wholly owned subsidiary Grace Timon Investments.
In return, BWCAM secures a 49 percent stake in Andrada Investments, giving the partnership a direct financial stake in the project’s success.
He said, “The unconditional approval from the NaCC represents another important step in unlocking the potential of Brandberg West.
Our partnership with BWCAM combines Andrada’s Namibian operating and geological expertise with ACAM’s investment capabilities to advance the project systematically.”