Firering Strategic Minerals plc (LON:FRG), a development company specialising in critical minerals, is holding its Annual General Meeting today, where Non-Executive Chairman Youval Rasin will deliver the following statement:
“This year has been transformative for Firering having strategically shifted our focus to our quicklime venture in Zambia, Limeco Resources Limited (Limeco), which we are optimising with the goal of commencing phased production in Q4 this year.
“With a historical investment of over US$100 million, this promising project is set to produce 600-800 tonnes of quicklime daily. To contextualise, quicklime prices have ranged from US$160 to US$218 per tonne over the past two years, underscoring the significant value of our asset.
“Several factors drive the robust demand for quicklime, including its crucial role in copper smelting by controlling pH levels during flotation, and enhancing copper separation from other minerals. This market is particularly attractive for Limeco as it is poised to be the sole quicklime producer in the region, coinciding with increased activity in the Zambian Copperbelt. Zambia, currently the seventh largest copper producer globally, aims to boost output to 3Mt by 2032, potentially making it the second largest world producer.
