Namibia's competition regulator has cleared Andrada Mining's earn-in agreement covering its Brandberg West copper, tungsten and tin project, the company announced Wednesday.

The Namibian Competition Commission approved the deal between Andrada Investments — a subsidiary of AIM-listed Andrada Mining — and BWCAM, a subsidiary of natural resource partnership ACAM. Under the agreement, BWCAM could inject up to $51 million in staged funding to accelerate exploration and development at Brandberg West. In exchange, BWCAM would receive a 49% stake in Andrada Investments.

The polymetallic prospecting licence is held by Grace Timon Investments, a wholly owned Andrada Investments subsidiary.

Work at the site is already underway. Andrada has completed geophysical surveys and reverse circulation drilling across the historical tailings storage facility at Brandberg West. Diamond drilling is currently in progress, and the company has started sampling to test whether minerals can be extracted from waste streams.

Andrada Mining CEO Anthony Viljoen called the regulatory approval a milestone for the project. "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," Viljoen said.

Andrada said it would issue further market updates on the project as work progresses