3rd Jul 2014 10:50
LONDON (Alliance News) - Tri-Star Resources PLC Thursday said it has now legally completed the formation of a joint venture that will build and develop an antimony roasting project in Oman, and has secured a plot for the roaster in the port of Sohar.
In a statement, the company said it owns 40% of Strategic & Precious Metals Processing LLC. It didn't name its partners in the joint venture.
Antimony is used in batteries and cable sheathing, among other products. China is by far the world's biggest producer of the metal, but Tri-Star says its new joint venture in Oman will be the first facility outside China supply EU standard metal. It is targeting a market share of 10% in terms of production.
Tri-Star shares were up 5.4% at 0.1949 pence Thursday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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