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Land and equipment lease agreement

28th Sep 2015 07:00

RNS Number : 2397A
BMR Mining PLC
28 September 2015
 

BMR Mining PLC ("BMR" or the "Company")

Land and equipment lease agreement

 

The Board is pleased to announce that on 25 September 2015, BMR entered into an agreement with Sable Zinc Kabwe Limited ("Sable Zinc"), a subsidiary of Glencore, in respect of land adjacent to BMR's tailings dumps and certain key items of equipment.

The agreement, which has an initial term of 12 months, provides for the lease by BMR, at a cost of US$1,000 per month, of a concrete apron on which BMR proposes to site its proposed Pilot Plant, and related equipment, including a 300m3 partially rubber lined reservoir suitable for the storage of re-cycled water, three 90m3 rubber lined leach tanks, a 60m3 rubber lined clarifier and rake mechanism, and a filter press. The agreement also covers use of Sable Zinc's sulphuric acid storage facilities and office and additional storage space.

 

Alex Borrelli, Chairman of BMR, commented:

"This is a particularly valuable agreement for BMR as it provides us with access to prime space for our pilot plant and access to good quality equipment which we would otherwise have had to purchase, and most likely transport to Kabwe.

"We are refining the costing of the Pilot Plant, in light of recent changes which have enhanced the quality of the output, and will provide a further update in due course."

 

Contacts:

BMR Mining PLC 020 7734 6252

Alex Borrelli, CEO and Chairman

 

WH Ireland Limited 020 7220 1666

Chris Fielding, Head of Corporate Finance

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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