Korean Recycling Plant Commissioning Update

ZincOx Resources plc

Korean Recycling Plant Commissioning Update

ZincOx Resources plc, which specialises in the recovery of zinc concentrate from steel industry waste, announces that its wholly owned Korean Recycling Plant is in the final stages of commissioning and is confident that the plant will be operational within two weeks, narrowly outside of the original schedule set 18 months ago.

For the purposes of commissioning, the plant has been divided into two zones. Zone 1 includes EAFD unloading, coal pulverization, binder preparation, briquetting, drying and screening. Commissioning of Zone 1 is complete and briquettes have been tested in the plant's laboratory. These tests have shown that the briquettes are of excellent quality and after heating demonstrated high zinc removal and iron metallisation. Over 600 tonnes of briquettes have been produced and are waiting to feed the furnace.

Zone 2 includes the rotary hearth furnace ("RHF"), gas handling system and hot briquetting tower. The RHF has been operated in a cold state with good briquette loading and discharge and is ready for production. The gas handling system which has undergone its final testing of emergency systems, is ready for operation. The hot briquetting tower is awaiting hot DRI for final commissioning. The burners on the RHF are being tuned and then the furnace will be gradually heated up over a two day period, ahead of the commencement of production.

All staff for the operation have been recruited and trained.

Commenting on the announcement, Andrew Woollett, ZincOx's Chairman, said:

"We set ourselves an ambitious development schedule when we started this project 18 months ago so notwithstanding the very fast track approach taken in this development, I am delighted to report that the project has, to date, been developed within budget and without a single lost time injury. I look forward to reporting the start of production within a fortnight."

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