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ZincOx Resources teams up with Korea Zinc to start up plant in Vietnam

Mon, 23rd Jan 2017 10:36

(ShareCast News) - ZincOx Resources, an AIM-listed company that recycles hazardous waste generated by recycling steel scrap, has entered into a joint-venture agreement with Korea Zinc company (KZC) to develop a recycling plant in Vietnam.Under the agreement, KZC will fund 100% of a Definitive Development Study (DDS) in sufficient detail to enable the raising of project finance for the construction of the project.The DDS is expected to cost about $2.5m. KZC will own 51% of a special purpose company which has been set up to develop the recycling plant with the remaining 49% held by ZincOx.If DDS ends up costing more than $3m the interest of ZincOx will be diluted proportionately accordingly to the additional funds that KZC has contributed. ZincOx will be able to buy back its interest to 49% on the same terms in the following six months.The recycling plant will be based on the Rotary Hearth Furnace (RHF) technology developed by ZincOx in Korea, now owner by KZC. The Korean recycling plant is one of the world's largest facilities recycling the waste dust (EAFD) generated by recycling galvanised steel scrap and has a design capacity of 200,000 tonnes per annum (tpa).The Vietnamese recycling plant is aimed at treating up to 100,000 tpa of EAFD and additionally upgrade both the iron and zinc intermediate products of the RHF to final products.The share price of ZincOx fell 5.56% to 0.425p at 1233 GMT on Monday.
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3 Jun 2014 11:31

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LONDON (Alliance News) - ZincOx Resources PLC Tuesday said its pretax loss widened in 2013 as increased revenues were offset by higher costs and expenses at the company. The zinc recycling company said its pretax loss widened to USD26.3 million from USD10.0 million the previous year despite

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3 Jun 2014 09:25

ZincOx Resources widens losses after issues at Korean Recycling Plant

AIM-listed ZincOx Resources reported that its loss more than doubled to $26.3m for 2013, resulting mainly from the multiple operational and mechanical issues at its Korean recycling plant (KRP). As a consequence, in most months, the plant was operating for less than two thirds of the time and gene

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25 Apr 2014 16:00

Cineworld's newest board members stock up

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24 Apr 2014 13:29

ZincOx Resources Says Only 52% Of Shares In Open Offer Taken Up

LONDON (Alliance News) - ZincOx Resources PLC said that just over half of the shares available in its 7-for-26 open offer were taken up.

The company, which is focused on recycling Electric Arc Furnace Dust, a hazardous waste generated by the recycling of steel scrap, raised proceeds

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16 Apr 2014 08:58

ZincOx Recommences Production In Korea Following Replacements

LONDON (Alliance News) - ZincOx Resources PLC Wednesday said it has recommenced production at its Korean Recycling Plant following brought forward equipment replacement work. The zinc recycling company said that during the 18 day closure, repairs to refractory in the flue area of the rotary

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2 Apr 2014 15:30

Fusion IP flies as new directors dip in

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1 Apr 2014 12:05

UK MIDDAY BRIEFING: Weir Group Leads Flurry Of M&A Activity

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1 Apr 2014 10:59

UK WINNERS & LOSERS: Babcock Rises Again; Weir Drops Sharply

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Tuesday.

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FTSE 100 - WINNERS

Aberdeen Asset Management, up 6.1%. The asset manager estimates net outflows slowed to ap

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1 Apr 2014 09:25

ZincOx Seeks Shareholder Support To Complete Recycling Plant Ramp Up

LONDON (Alliance News) - ZincOx Resources PLC Tuesday said it had conditionally raised GBP1.0 million by way of a placing of roughly 10.3 million shares at a price of 10 pence per share, and announced plans to raise a further GBP4 million by way of an open offer at the same price. The zinc

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17 Mar 2014 13:30

ZincOx Hits Further Reliability Issues, Moves Forward Equipment Upgrades

LONDON (Alliance News) - ZincOx Resources PLC Monday said it is moving forward equipment upgrades at its Korean Recycling plant in order to improve plant performance after mixed production results. The company, which is developing Asia's largest zinc recycling project, said it produced a re

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12 Nov 2013 13:20

ZincOx Resources To Raise GBP5.6 Million To Fund Developments

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26 Sep 2013 12:14

ZincOx Resources Shares Drop 11% As Company Swings To Pretax Loss

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