Firering Strategic Minerals, an AIM-listed mining company based in Cyprus, has secured a two-year agreement with a major multinational commodity trader, expected to generate USD 600,000 to USD 720,000 in annual revenue. This agreement supports the company’s Limeco quicklime project in Zambia, providing positive cash flow ahead of its expected production start in late 2024.
Firering is ramping up quicklime production and is negotiating offtake agreements with copper producers. The Limeco project is set to become the largest quicklime producer in Zambia, supplying the Copperbelt region’s mining industry, which currently imports quicklime from South Africa. The project has received USD 100 million in investment, and Firering holds a 20.5% stake, with the option to increase this to 45%.
In addition to Limeco, Firering is exploring a Lithium and Tantalum project in Ivory Coast. Despite a decline in share prices, Firering’s strategic developments suggest potential growth, making it a company to watch closely.
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.
