Firering
Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector:
Mining
22 January 2025
Firering
Strategic Minerals plc
("Firering" or "the Company")
Aggregate Production at Limeco Achieves
Nameplate Capacity
Multi-revenue stream strategy driving
efficiency and sustainability
Firering Strategic Minerals plc, an
emerging quicklime production and critical mineral exploration
company, is pleased to provide an update regarding production of
its key ancillary product, aggregate, at its quicklime project in
Zambia ("Limeco").
Highlights
·
Aggregate production has reached nameplate capacity in line
with strategy to create multiple revenue streams.
·
Over 30,000 tonnes per month of aggregate are now capable of
being produced.
·
Aggregate production increased 58.9% to 84,702 tonnes in Q4
2024 compared to Q3 2024. This has also driven a material
uplift in operating cashflow in Q4 2024 compared Q3
2024.
·
First production of core quicklime product
imminent.
Yuval Cohen,
Chief Executive of Firering, said: "While our primary focus remains on scaling up production of
our core quicklime product to reach full capacity by year-end, we
are equally pleased to have already achieved nameplate capacity for
aggregate production. This milestone follows the successful
completion of renovations to the crushing plant, enabling us to
stockpile crushed limestone while optimising the use of the waste
stream for aggregate production. This not only enhances operational
efficiency and delivers strong cash flow but also significantly
reduces waste, reflecting our commitment to sustainable
practices."
Details
Firering continues to make excellent progress
advancing Limeco with first production of its core quicklime
product imminent. When fully commissioned, able to produce 600-800
tpd quicklime over a +50-year life of mine, Limeco will
potentially be the largest quicklime operation in Zambia,
positioned to support the Copperbelt's rapidly expanding copper
production needs.
Additionally, in line with its strategy to
create multiple revenue streams, production of aggregate, with the
benefit of a new primary crusher installed in July 2024, has also
been ramping up. Having completed renovations to the crushing
plant, production of aggregate has reached nameplate capacity of
350,000 tonnes per annum. Aggregate sold to date is being consumed
by local industrial companies.
*** ENDS ***
For further information visit
www.fireringplc.com or contact:
|
Firering
Strategic Minerals
|
|
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Yuval Cohen
|
info@firering-holdings.com
|
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SPARK Advisory
Partners Limited (Nominated Adviser)
|
|
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Neil Baldwin / James Keeshan / Adam
Dawes
|
+44 20 3368 3550
|
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Optiva
Securities Limited (Joint Broker)
|
|
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Christian Dennis / Daniel Ingram
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+44 20 3137 1903
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Shard Capital
Partners LLP (Joint Broker)
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Damon Heath / Erik Woolgar
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+44 20 7186 9950
|
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St Brides
Partners Limited (Financial PR)
|
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Isabel de Salis / Susie Geliher / Seb
Weller
|
firering@stbridespartners.co.uk
|
Notes
Firering Strategic Minerals plc, an AIM-listed
resource company, is positioned to scale up production in 2025 at
its quicklime project in Zambia to produce 600-800 tonnes of
quicklime daily along with a range of ancillary products. With over
US$100 million in historical investment, the project is
strategically positioned to support the expanding copper producers
in the Zambian Copper Belt, which are currently reliant on imported
quicklime from South Africa. Firering currently holds an SPA
over a 20.5% stake in Limeco Resources Limited ("Limeco") with
16.7% already paid and an option to increase this to 45%.
Additionally, the Company is advancing the Atex Lithium-Tantalum
Project in northern Côte d'Ivoire, an exploration project rich in
lithium and tantalum-niobium, with drilling results indicating
significant resource potential in this established mining
jurisdiction.
