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(Alliance News) - Keras Resources PLC on Wednesday said construction of the processing plant at phosphate mine Diamond Creek in the US state of Utah has been completed and commissioning has begun.
Shares in Keras rose 6.7% at 0.11 pence each in London on Wednesday morning.
Keras, which has operations in Togo, West Africa and the US state of Utah, said steady-state operational capacity is expected by the end of June.
The plant is expected to roduce a range of premium organic phosphate products for sale directly into the growing North American organic fertiliser market.
"Diamond Creek is the one of the highest-grade organic phosphate mines in the US and installing this plant will enable us to extract maximum value and sell a range of fully certified, high-quality products into a growing organic fertiliser market," said Chief Executive Rusel Lamming.
Completing the plant build is a "significant step forward" in the optimisation, production ramp up and expansion plans for Diamond Creek, the company said. The plant will ensure efficient beneficiation whilst removing the need for external toll treatment, it added.
The Diamond Creek mine is owned by the London-based mineral resource company's 51% subsidiary Falcon Isle Holdings LLC.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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