BMR set to agree larger facility for Kabwe plant

(ShareCast News) - Zambia-focused mineral processing business BMR Group said it expects to agree a $3.5m loan facility alongside a sale-and-purchase deal with a private South African firm later this week. The facility, which at the end of June was only expected to be $2m, is to enable construction of a processing plant at Kabwe in central Zambia and is being agreed alongside a sale and purchase agreement covering agricultural grade zinc sulphate heptahydrate (ZSH) and lead sponge with the South African mining, energy and agri-business group.BMR, previously known as Berkeley Mineral Resources, recently said the plant was on schedule to be commissioned and begin production in early 2017.Shares in BMR were up 20% to 3.9p by midday on Monday, still some way short of April's one-year high above 7p and 2010's heady heights above 70p.