LONDON (Alliance News) - Zambia-focused minerals processing company BMR Group PLC on Friday said it has received confirmation of the environmental approval of its planned Kabwe plant.
BMR said the Zambia Environmental Management Agency have confirmed the environmental social impact assessment for the tailings retreatment process and construction of the plant at Kabwe has been approved.
BMR has continued to refine plans for the plant and said the process and engineering design work for the construction phase it at an advanced stage.
"We are very pleased to have received the approval from ZEMA for the pilot plant. We believe that this major milestone underpins the value of the company's assets at Kabwe and is a significant step-forward in the development of a major, cash-generative business," said Alex Borrelli, chief executive and chairman of BMR.
BMR shares were up 5.4% to 4.61 pence early Friday, having spiked to 5.38p at the open on the news.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.