Limestone - Zambia
On the 17th August 2023 we announced that we had signed an opton deed to acquire up to 28.33% of Limeco Resources Limited the owner of a Limestone project located 22km west of Lusaka in Zambia for an aggregate of US$5.1 million across two tranches. The project comprises of a limestone quarry with an estimated non-JORC compliant mineral resource of more than 73 million tonnes (Source: Golder Associates, October 2017) and a Quicklime production facility with the potential to produce between 500 and 600 tonnes of quicklime per day.
The Limeco project is now advancing with various parts of the processing operation now entering the commissioning phase.
Our agreement to invest in Limeco was recently revised and a new agreement was announced on the 28th May 2024 whereby Firering agreed to increase its stake in Limeco to 45%. The full detals of the new investment arrangement can be found HERE
Project Summary
Assets
- Two stage crushing circuit with an installed capacity of 300tph of limestone
- Lime plant comprising eight kilns for burning crushed limestone to produce 600-800 tonnes quicklime per day
- Limestone stockpile of c.150,000 tonnes to be used for immediate production once the first kiln has been recommissioned
- Aggregate rock stockpile of c.250,000 tonnes for the immediate production of aggregate
Sales – Quicklime & Aggregate
- Sales of aggregate commenced in October 2023
- Ongoing discussions for quicklime offtake with a major copper producer
Production
- Our objective is to reach production levels of between 600 to 800 tons of Quicklime per day