Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining

22 January 2025

Firering Strategic Minerals plc

("Firering" or "the Company")

Aggregate Production at Limeco Achieves Nameplate Capacity

Multi-revenue stream strategy driving efficiency and sustainability

Firering Strategic Minerals plc, an emerging quicklime production and critical mineral exploration company, is pleased to provide an update regarding production of its key ancillary product, aggregate, at its quicklime project in Zambia ("Limeco").

Highlights

·    Aggregate production has reached nameplate capacity in line with strategy to create multiple revenue streams.

·    Over 30,000 tonnes per month of aggregate are now capable of being produced.

·    Aggregate production increased 58.9% to 84,702 tonnes in Q4 2024 compared to Q3 2024.  This has also driven a material uplift in operating cashflow in Q4 2024 compared Q3 2024.

·    First production of core quicklime product imminent.

Yuval Cohen, Chief Executive of Firering, said: "While our primary focus remains on scaling up production of our core quicklime product to reach full capacity by year-end, we are equally pleased to have already achieved nameplate capacity for aggregate production. This milestone follows the successful completion of renovations to the crushing plant, enabling us to stockpile crushed limestone while optimising the use of the waste stream for aggregate production. This not only enhances operational efficiency and delivers strong cash flow but also significantly reduces waste, reflecting our commitment to sustainable practices."

Details

Firering continues to make excellent progress advancing Limeco with first production of its core quicklime product imminent. When fully commissioned, able to produce 600-800 tpd quicklime over a +50-year life of mine, Limeco will potentially be the largest quicklime operation in Zambia, positioned to support the Copperbelt's rapidly expanding copper production needs.

Additionally, in line with its strategy to create multiple revenue streams, production of aggregate, with the benefit of a new primary crusher installed in July 2024, has also been ramping up. Having completed renovations to the crushing plant, production of aggregate has reached nameplate capacity of 350,000 tonnes per annum. Aggregate sold to date is being consumed by local industrial companies.

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Notes

Firering Strategic Minerals plc, an AIM-listed resource company, is positioned to scale up production in 2025 at its quicklime project in Zambia to produce 600-800 tonnes of quicklime daily along with a range of ancillary products. With over US$100 million in historical investment, the project is strategically positioned to support the expanding copper producers in the Zambian Copper Belt, which are currently reliant on imported quicklime from South Africa.  Firering currently holds an SPA over a 20.5% stake in Limeco Resources Limited ("Limeco") with 16.7% already paid and an option to increase this to 45%. Additionally, the Company is advancing the Atex Lithium-Tantalum Project in northern Côte d'Ivoire, an exploration project rich in lithium and tantalum-niobium, with drilling results indicating significant resource potential in this established mining jurisdiction.