REG - Firering Strategic - Commercial Production Gains Momentum at Limeco

Firering Strategic MineralsAnnouncement

23/04/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250423:nRSW7521Fa&default-theme=true

RNS Number : 7521F  Firering Strategic Minerals PLC  23 April 2025

Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining

23 April 2025

Firering Strategic Minerals plc

("Firering" or "the Company")

 

Commercial Production Gains Momentum at Limeco, Zambia

 

High-grade quicklime surpasses metallurgical standards with samples reaching
over 90% purity

 

Firering Strategic Minerals plc, an emerging leader in quicklime production
and critical mineral exploration, is pleased to report significant progress in
the commercial ramp-up of its Limeco quicklime project in Zambia ("Limeco" or
the "Project"). The Project is well-positioned to become a key supplier of
high-quality quicklime ("CaO") to the rapidly expanding copper production
sector in the Central African Copperbelt.

 

Highlights

·    High-quality quicklime produced with CaO sample purity levels
reaching over 90%, well above the accepted target for metallurgical processes
of 80% or higher.

·    Achieved production of commercial grade quicklime, paving the way for
initial sales.

·    Optimisation of Kiln 1 progressing, with daily output steadily
increasing.

 

Yuval Cohen, Chief Executive of Firering, commented: "I'm very pleased with
the continued progress at Limeco, where the optimisation of Kiln 1 is
advancing, and daily output is steadily increasing. While slightly behind
schedule, the lessons learned will streamline commissioning of the remaining
seven kilns. With commercial-grade quicklime now being produced, we are seeing
strong interest from major mining companies and traders and anticipate first
sales in the coming weeks - an important step towards becoming a key quicklime
supplier to the Central African Copperbelt and beyond."

 

Project Update

Limeco continues to deliver on its phased production strategy, with the
long-term goal of becoming Zambia's leading quicklime producer, targeting
600-800 tonnes per day by Q1 2026. Following the successful commissioning of
Kiln 1 (see RNS dated 19 February 2025), output at the kiln has been steadily
increasing, with current production exceeding 50 tonnes per day.

 

In-house laboratory analyses confirm that quicklime quality is consistently
strong, with CaO sample purity levels reaching over 90%, well above the
accepted target for metallurgical processes of 80% or higher. Accordingly,
commercial-grade samples have been distributed to several major copper
producers and quicklime traders and initial sales are expected to commence
shortly, marking a significant step forward in Limeco's commercial rollout
strategy. For commercial confidentiality, spot sales pricing and customer
details will only be disclosed as required for regulatory purposes.

 

*** ENDS ***

 

For further information visit www.fireringplc.com or contact:

 

 Firering Strategic Minerals                          E: info@firering-holdings.com

 Yuval Cohen
 SPARK Advisory Partners Limited (Nominated Adviser)  T: +44 20 3368 3550

 Neil Baldwin / James Keeshan
 Optiva Securities Limited (Joint Broker)             T: +44 20 3137 1903

 Christian Dennis / Daniel Ingram
 Shard Capital Partners LLP (Joint Broker)            T: +44 20 7186 9950

 Damon Heath / Erik Woolgar
 St Brides Partners Limited (Financial PR)            E: firering@stbridespartners.co.uk

 Isabel de Salis / Susie Geliher / Seb Weller

 

Notes

Firering Strategic Minerals plc, an AIM-quoted resource company, is scaling up
production at Limeco, its quicklime project in Zambia, targeting a daily
output of 600-800 tonnes of quicklime. 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
a further 3.8% to be paid prior to 30 April 2025 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DRLFLFLASDIFFIE