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An update from Firering Strategic Minerals Plc ( (GB:FRG) ) is now available.
Firering Strategic Minerals has completed the hot commissioning of Kiln 2 at its Limeco lime operation in Zambia, moving the unit into a three-month optimisation phase aimed at achieving consistent output and quality. The new kiln incorporates lessons from Kiln 1, with upgrades to burner systems, airflow and monitoring designed to deliver a faster, more predictable ramp-up to steady-state production.
With two kilns now in operation, Limeco is progressing toward sustained multi-kiln production that enhances operating leverage, cash generation prospects and overall project resilience. The company has also increased its stake in Limeco to 36.2% through the exercise of a further option tranche, reinforcing its strategic and financing flexibility as capacity grows.
Commercial traction is improving, supported by successful product validation and new orders from regional mining clients. Limeco is fulfilling a 600-tonne order from a major international mining group in Zambia and a similar-sized shipment for customers in Zimbabwe, while positioning itself to compete for longer-term supply contracts that could underpin future revenue stability.
More about Firering Strategic Minerals Plc
Firering Strategic Minerals is an Africa-focused producer and developer of industrial and critical minerals, listed on AIM. Its near-term focus is ramping up production at the Limeco lime project in Zambia, where it now holds a 36.2% stake with an option to increase this to 45%. Once optimised, Limeco aims to be one of the largest regional lime suppliers to major copper producers in the Central African Copperbelt and gold producers in Zimbabwe. The company also holds the Atex lithium-tantalum exploration project in northern Côte d’Ivoire, broadening its exposure to critical battery minerals.
Average Trading Volume: 1,127,372
Technical Sentiment Signal: Sell
Current Market Cap: £5.19M
Learn more about FRG stock on TipRanks’ Stock Analysis page.