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IN BRIEF: Adamas Investee Secures Renewal To Mining Licence

Fri, 7th Aug 2020 14:25

Adamas Finance Asia Ltd - Asia-focused investment vehicle - Says its portfolio company Future Metal Holdings Ltd has secured a three-year renewal to its mining licence. The licence permits a maximum annual dolomite production capacity of 300,000 tonnes.

"I am pleased that Future Metal has secured renewal of its mining licence as expected. Quarry operations resumed in mid-March this year after a temporary pause due to the pandemic. The mine is now in production and expects to continue for the remainder of this year. The local management team is now focused on sales for of the quarry's product to domestic construction companies as the local economy recovers," said Adamas Finance Chair John Croft.

Current stock price: 27.00 pence

Year-to-date change: up 37%

By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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