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Firering Strategic Minerals Plc ( (GB:FRG) ) has issued an update.
Firering Strategic Minerals reported a key milestone at its Limeco operation in Zambia, where it has effectively reached breakeven in March on the back of operational improvements and rising demand for its higher-value lime products. The company secured a two-year offtake contract to supply hydrated lime to a major international copper producer in Zambia, formalising an existing relationship and underpinning a growing sales pipeline across mining, food processing and industrial clients.
Operationally, Limeco has boosted performance with Kiln 2 now discharging near target capacity and outperforming Kiln 1, while commissioning of Kilns 3 and 4 remains on track for the second half of 2026 to materially expand output. Management has temporarily taken Kiln 1 offline to replicate successful modifications from Kiln 2 and is shifting the product mix toward premium hydrated lime and high-purity calcium carbonate, alongside dewatering its open pit to move toward fully integrated feedstock supply.
The improved operating metrics and expanding product range position Limeco for a step-change in earnings as volumes increase, supporting Firering’s broader strategy in industrial and critical minerals. In parallel, the company continues to attract third-party interest in its Atex lithium-tantalum project in Côte d’Ivoire, which could provide an additional growth avenue alongside the lime business.
More about Firering Strategic Minerals Plc
Firering Strategic Minerals is an Africa-focused producer and developer of industrial and critical minerals, with a near-term focus on ramping up production at the Limeco lime products project in Zambia, where it holds a significant minority stake and an option to increase its interest. Once fully optimised, Limeco is expected to rank among the largest lime operations in the region, supplying mining, agricultural and industrial customers, while Firering also advances the Atex lithium-tantalum project in Côte d’Ivoire.
Average Trading Volume: 2,009,309
Technical Sentiment Signal: Sell
Current Market Cap: £4.99M
See more insights into FRG stock on TipRanks’ Stock Analysis page.