BMR Group PLC Confirmation of ZEMA approval (4322X)
May 06 2016 - 1:00AM
UK Regulatory
TIDMBMR
RNS Number : 4322X
BMR Group PLC
06 May 2016
BMR Group PLC
("BMR" and the "Company")
Confirmation of ZEMA approval
BMR Group PLC, the Zambian-focused mineral processing business
is delighted to announce that on 5 May 2016 it received
confirmation from the Zambia Environmental Management Agency
(ZEMA), that its Environmental Social Impact Assessment, in respect
of its tailings retreatment process and the construction of its
planned Pilot and Main Treatment Plants in Kabwe, which was
submitted in December 2015, has been approved.
The terms of ZEMA's approval include conditions typical in such
projects, including the requirement for BMR to conduct air
modelling and hydro-geological studies and to install pollution
abatement equipment prior to commencing operations, and to submit
bi-annual results of its monitoring programme to ZEMA, as well as
to ensure continuous vegetation of new tailings.
The Company has continued to refine its plans for the Pilot
Plant with the process and engineering design work for its
construction already being at an advanced stage. The Company is
currently focused on assessing the appropriate levels of both
capital expenditure and operating expenditure that are necessary
for the construction and subsequent commercialisation of the Pilot
Plant. The costings will now include provision for a Solvent
Extraction plant designed to enhance the quality of the products
that will therefore augment their end value.
A further announcement will be made later this month regarding
the costings, following a peer review, and the timing of the
construction of the Pilot Plant, in light of the ZEMA approval.
Alex Borrelli, CEO and Chairman, commented:
"We are very pleased to have received the approval from ZEMA for
the Pilot Plant. We believe that this major milestone underpins the
value of the Company's assets at Kabwe and is a significant
step-forward in the development of a major, cash-generative
business. We are also grateful to our shareholders for their
patience over the recent period, while we have been working
diligently behind the scenes to achieve this result.
"This approval clears the way for the BMR management team to
proceed with our plans to build and start operating the Pilot Plant
as soon as practicable. In the immediate future, we will finalise
the plant costings and construction schedule and update
shareholders accordingly."
Ends
For further information:
BMR Group PLC 020 7734 7282
Alex Borrelli, CEO and Chairman
WH Ireland Limited 020 7220 1666
NOMAD and joint broker
Chris Fielding, Head of Corporate Finance
Peterhouse Corporate Finance 020 7469 0930
Joint Broker
Lucy Williams/Duncan Vasey/Heena Karani
This information is provided by RNS
The company news service from the London Stock Exchange
END
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