LONDON (Alliance News) - Arc Minerals Ltd on Monday said the Kalaba demonstration plant in Zambia has now been completed and successfully commissioned with the initial production of copper and cobalt sulphide concentrate.
The exploration and mine development company said it is finalising detailed oxide resource tonnages, grades and mining plans in line with the completion of the block modelling of the overall oxide resource.
Initial production will incur no mining cost, Arc Minerals said, as the plant feed will be drawn down from the existing stockpile of 10,000 tonnes at 2% copper.
The potential to enhance revenue streams through the production of separate copper and cobalt sulphide precipitates is also being investigated, the company noted.
"I am very pleased to report that we delivered on our commitment to complete the construction and commissioning of the small-scale demonstration pilot plant at Kalaba," said Executive Chair Nick von Schirnding.
"In the meantime, we have made major progress regarding our next phase of exploration and our newly identified targets. A more detailed update on this will be made shortly," added Von Schirnding.
Arc Minerals shares were trading 2.9% lower on Monday at 2.50 pence each.
Arc Minerals (ARCM)