16th Apr 2014 08:58
LONDON (Alliance News) - ZincOx Resources PLC Wednesday said it has recommenced production at its Korean Recycling Plant following brought forward equipment replacement work.
The zinc recycling company said that during the 18 day closure, repairs to refractory in the flue area of the rotary hearth furnace were completed together with the installation of new inner tubes for the remaining two heat exchangers.
"Now that the inner tubes of all four heat exchangers have been renewed, we look forward to an uninterrupted run of production that should enable us to optimise the plant and reach full throughput," Chairman Andrew Woollett said in a statement.
The company has been hit by multiple reliability and technical problems at its Korean Recycling Plant in recent months. In March, it noted that production was being constrained by a lack of oxygen contracted from its external supplier. Due to a fault in the gas handling system during February, it decided to bring forward the replacement of its inner shell from March. This was completed successfully in February, but led to a low production rate in February of 1,053 tonnes of zinc in concentrate.
The company announced at the time that it has decided to move forward replacement of its inner shells on two further heat exchangers to April from August in order to improve the reliability of the plant. It actually started the replacement work on March 26.
ZincOx shares were up3.8% to 11.68 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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