Korean Recycling Project Groundbreaking (8747C)
March 14 2011 - 5:30AM
UK Regulatory
TIDMZOX
RNS Number : 8747C
ZincOx Resources PLC
14 March 2011
ZincOx Resources plc ("ZincOx" or "the Company")
Korean Recycling Project Groundbreaking
ZincOx Resources plc held a Groundbreaking Ceremony on Friday 11
March for its wholly owned Korean Recycling Plant in South Korea.
The ceremony was attended by the Governor of Gyeongsangbuk-do
Province, the mayor of the city of Geongju and the deputy Chairman
of KOSA (The Iron and Steel Association of Korea).
The Ceremony follows the recent completion of the site
construction offices. The combined engineering teams of ZincOx and
Xmetech, the EPCM contractor, have begun to move on site.
The procurement phase of the development is well underway and
the project remains on budget and on schedule for completion in the
first quarter of 2012 with the second phase scheduled for
completion before the end of 2013.
The dismantling and removal of the rotary hearth furnace and
other equipment purchased in the USA was completed in December
2010. All of this plant is now being refurbished by the original
manufacturers and will be shipped to Korea in May. Infrastructural
development at the site will be undertaken over the coming six
weeks and the construction of foundations will commence in
April.
Commenting on the announcement, Andrew Woollett the Chairman of
ZincOx said "We are making excellent progress with the development
of the project. The speed at which we have been able to implement
our plans over the past six months has only been possible due to
the wonderful support we have had from KOSA and the Korean
government at local, provincial and national levels."
For further information, please contact:
ZincOx Resources plc
Andrew Woollett, Executive Chairman
Peter Wynter Bee, Managing Director
+44 (0) 1276 450100
Nominated Adviser and Broker
Ambrian Partners Limited
Andrew Craig / Jen Boorer
+44 (0) 20 7634 4700
Tavistock Communications
Charlie Geller / Paul Youens
+44 (0) 20 7 920 3150
Notes to editors
ZincOx is focused on recovering zinc from Electric Arc Furnace
Dust, a hazardous material with high zinc content (22%).
Approximately 7m tonnes of EAFD is produced globally per annum,
with over a third emanating from Asia, and about half going to
landfill.
The company has modified an existing process, increasing the
amount and quality of zinc concentrate that is recovered from EAFD,
whilst also recovering a saleable iron product. This technology
represents a considerable leap forward both economically and
environmentally.
The first plant is being built in Korea, where long term supply
agreements for EAFD have been agreed and the company benefits from
Foreign Investment Zone status, providing 5 years rent and tax free
status.
The Korea Recycling Project (KRP) will be developed in two equal
phases, with the first phase due to be commissioned in Q1 2012 the
second Phase in 2013. Phase 1 is scheduled to produce 46,000 tonnes
per annum of zinc in an oxide concentrate containing 58% zinc.
The company has a strong, experienced management and technical
team with the ability to roll the concept out globally.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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