LONDON (Alliance News) - Zambia-focused minerals processing firm BMR Group PLC on Thursday said it has continued to make progress on the Kabwe processing plant in the country.
BMR said negotiations on an offtake sale and purchase agreement are progressing well with an unnamed South African group. The agreement would provide funding to build the plant at Kabwe, together with a related sales agreement covering agricultural grade zinc sulphate heptahydrate and lead sponge.
Civil works to prepare for construction of the plant are now well advanced, BMR said, and preliminary work has started on evaluating the Kashitu area.
"We continue to make good progress towards the key sale and purchase agreement for zinc sulphate heptahydrate and lead sponge from our plant and look forward to confirming this by the end of July 2016," said Chairman Alex Borrelli.
BMR shares were up 1.1% to 3.16 pence Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.