29th Jan 2019 14:24
LONDON (Alliance News) - Arc Minerals Ltd on Tuesday said it has made "excellent" progress over the past nine months with the construction of the commercial scale demonstration plant at its Zamsort copper-cobalt project in north western Zambia.
During November 2018, the technical team completed the front end of the plant comprising the two crusher units, screens, a ball mill and conveyors.
This section now has been completed and successfully commissioned in December 2018 and has an initial capacity to process 10,000 tonnes per month.
The AIM-listed exploration company on Tuesday said the back end of the plant is due to commission in the next week, and initial production is scheduled to commence shortly thereafter.
The plant has a fully permitted renewable mining license through to 2025 and is fully funded through to initial production.
Looking ahead, Arc Minerals said it is currently in talks with a number of off-takers regarding future sales.
"I am very pleased with the progress at our plant over the past year," said Executive Chair Nick von Schirnding.
"We are finalising the airborne survey and geochem analysis and a further update is imminent," added Nick von Schirnding.
Arc Minerals shares were trading 3.3% higher on Tuesday at 2.84 pence each.
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