Firering Strategic Minerals has successfully secured an additional exploration licence for its limestone project in Lusaka, Zambia. This expansion, carried out through its subsidiary Limeco Resources, is expected to boost the company’s resource estimates significantly, supporting its ambitious production goals.
The AIM-listed mining company has announced this new strategic development as it continues to grow its Lusaka limestone project. The new licence is predicted to increase the mineral resource estimate by 60 to 70 million tonnes, bringing Firering closer to its goal of achieving an annual production target of 3 million tonnes by 2030. This marks a critical milestone in the company’s long-term plan.
Firering’s latest move highlights its aggressive expansion strategy in Zambia’s developing mining sector. The company has established itself as a key player in the production of industrial minerals, particularly quicklime. By securing this additional licence, Firering aims to capitalise on the increasing demand for these resources in both regional and global markets, enhancing the overall economic potential of the Lusaka project.
In addition to expanding its resource base, Firering has revealed that quicklime production from the first kiln is scheduled to begin in the fourth quarter of 2024. This is expected to provide a significant boost to the company’s revenue while also strengthening its position in the quicklime market, a sector that has seen a surge in demand due to its essential use in industries such as steelmaking, construction, and environmental management.
The Lusaka limestone project is set to become a vital part of Firering’s portfolio, supplying high-quality quicklime to meet growing market demands. The company has a long-term vision to expand its processing capabilities and secure a stable supply chain to meet the strict requirements of its target markets.
With the addition of this new licence, Firering Strategic Minerals is on track to achieve its production goals and strengthen its presence in the industrial minerals sector.
Firering Strategic Minerals plc (LON:FRG) is an AIM-quoted mining company focused on becoming a near-term cash generating producer of Quicklime, through their Limeco Project in Zambia, whilst at the same time progressing with the exploration and development of their Atex Lithium Project, Côte d’Ivoire.
