REG - Firering Strategic - Aggregate Production Achieves Nameplate Capacity

Firering Strategic MineralsAnnouncement

22/01/2025 07:00

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RNS Number : 1400U  Firering Strategic Minerals PLC  22 January 2025

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
 Yuval Cohen                                                    info@firering-holdings.com
 SPARK Advisory Partners Limited (Nominated Adviser)
 Neil Baldwin / James Keeshan / Adam Dawes            +44 20 3368 3550
 Optiva Securities Limited (Joint Broker)
 Christian Dennis / Daniel Ingram                     +44 20 3137 1903
 Shard Capital Partners LLP (Joint Broker)
 Damon Heath / Erik Woolgar                           +44 20 7186 9950
 St Brides Partners Limited (Financial PR)
 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.

 

 

 

 

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