Berkeley Mineral Resources Share News (BMR)

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Berkeley Mineral to cash in on zinc and lead dump

Fri, 25th Nov 2011 08:04

Berkeley Mineral Resources (BMR), the firm which owns the disused Kabwe mine in Zambia, says it is in discussions to sell on one of the huge residue dumps that it currently owns.In the mining industry, residue material is known as "tailings". Kabwe mine has three major dumps of tailings and they are a significant part of the asset value of BMR because they contain zinc and lead in significant quantities.BMR says the 573,458 tonnes of tailings it intends to sell have been certified as containing 10.66% zinc and 7.21% lead. On the open market zinc can sell at $1,915 per ton, lead is hovering around the $2000 a ton mark. BMR says it considered processing the tailings itself but the capital costs involved in setting up a flotation plant "would not be the best use of capital" at this stage of its development.The focus at Kabwe will now be on the other two major stockpiles of mining residue: the Leachplant dump and the Slag dump. The Leachplant dump is huge: 2,241,961 tonnes and is thought to contain 8.31% lead and 3.74% zinc. The reosurces of the slag stockpile are not yet fully known.BMR is now trying to work out the best processing route for these two stockpiles.Taking all its assets together the firm believes it holds "7.14 million tonnes of ore containing various metals, principally high-grade lead and zinc, of which 2.82 million tonnes currently conforms to the JORC Measured classification."It is also at an "advance stage of negotiations" to buy "all of the residual partly mined or unmined underground ore bodies remaining at the former Kabwe mine". These resources could amount to "22 million tonnes comprising 1.2 million tonnes of zinc, lead, silver, cadmium and other valuable minerals."Losses for the full year to the end of June were £2.5m, essentially the management and administration costs involved in setting up a mining asset. During the year the firm raised £20.7m in equity which BMR says will substantially fund the planned lead and zinc plants at Kabwe.In his conclusion to the trading update, BMR's chairman, Masoud Alikhani says: "The outlook for the company is positive. We have acquired the rights to above-ground stockpiles containing substantial amounts of metal. Entering production of our first long-life project at Kabwe, with cash generation scheduled to commence in the first quarter of 2012, will transform BMR into a significant base metal supplier."Shares in BMR were up 7.69% at 8.37am. In the year to date it has lost 65% of its stock value.BS

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19 Aug 2014 11:50

Berkeley Mineral receives approval for Zambian mining project

Berkerley Mineral Resources' (BMR) wholly owned subsidiary Enviro Processing Limited (EPL) has received approval from the Zambian Environmental Management Agency for its lead-zinc recovery and copper processing at Kabwe. The approval is subject to conditions relating to the monitoring of protectio

19 Aug 2014 08:36

Berkeley Mineral Resources Shares Surge On Kabwe Project Approval

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24 Jun 2014 12:57

Berkeley Mineral Resources Slides As Kabwe Project Approval Is Deferred

11 Jun 2014 11:04

Berkeley Mineral Resources Says Kabwe Project Approval Deferred

LONDON (Alliance News) - Berkeley Mineral Resources PLC shares dropped on Wednesday after the company said the Zambian Environmental Management Agency has decided to defer its Berkeley's environmental impact statement for the Kabwe project while it consults with relevant organisations. Berk

30 May 2014 12:34

Berkeley Mineral Resources Hasn't Received Environmental Decision For Kabwe

LONDON (Alliance News) - Berkeley Mineral Resources PLC Friday said it has not received a decision from the Zambian Environmental Management Agency over the development of its Kabwe lead-zinc recovery project and copper processing plant within the anticipated schedule. The AIM-listed resour

15 Apr 2014 09:13

Berkeley Mineral Resources Gets Approval For Kabwe Project At Public Meeting

LONDON (Alliance News) - Berkeley Mineral Resources PLC Tuesday said that its processing proposals for its Kabwe lead-zinc recovery project and copper processing plant in Zambia, was approved at a public meeting. The AIM-listed resource company with operations in Zambia, said that it expect

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2 Apr 2014 11:41

DIRECTOR DEALINGS: Berkeley Minerals Chairman Buys 1.5 Million Shares

LONDON (Alliance News) - Berkeley Mineral Resources PLC Wednesday said Chairman Masoud Alikhani purchased 1.5 million shares in the company at an average price of 1.30 pence per share Tuesday. Following this transaction, Alikhani will hold a total of 24 million shares in representing 2.08%

1 Apr 2014 14:24

DIRECTOR DEALINGS: Berkeley Mineral Resources Non-Executive Buys Shares

LONDON (Alliance News) - Berkeley Mineral Resources PLC Friday said non-executive Director Horacio Furman bought 1 million shares at a price of 1.33 pence per share Monday and now holds 4 million shares in total. Shares in the mining company were untraded at 1.30 pence Tuesday afternoon.Read more

28 Mar 2014 14:28

DIRECTOR DEALINGS: Berkeley Mineral Resources Non-Executive Director Buys Shares

LONDON (Alliance News) - Berkeley Mineral Resources PLC said its non-executive Director Mark Wainwright bought 850,000 shares in the company at an average price of 1.26 pence per share on Friday. Following the transaction, Wainwright will hold a total of 2.3 million shares in the company.Read more

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Berkeley Mineral to cash in on zinc and lead dump

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