Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBerkeley Mineral Resources Regulatory News (BMR)

  • There is currently no data for BMR

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Acquisition Update

13 Dec 2010 07:00

RNS Number : 7842X
Berkeley Mineral Resources PLC
13 December 2010
 

 

Berkeley Mineral Resources Plc

("BMR" or "the Company")

 

 

Update on Kabwe acquisition

 

Berkeley Mineral Resources Plc, the AIM listed resource company, presents an update on its proposed acquisition of tailings dumps at Kabwe.

 

Completion of the acquisition is not now expected to take place until early in 2011. Discussions with the vendor, Sable Zinc Kabwe Limited, and Dorset Solutions Limited, which assisted the Company in securing the original option to secure the tailings dumps, are continuing and meetings to progress the transaction are due to take place in South Africa before Christmas.

 

The vendor is in the process of securing new licences and permits under Zambian mining law as a renewal of the previous small scale mining licence held by the vendor which expired, as did all such licences, in July 2010. The process of obtaining these licences and permits has been one of the reasons for the delay to the completion of the acquisition.

 

Further updates will be made in due course, including at the Company's AGM on 17 December 2010.

 

Contacts:

 

Masoud Alikhani, Chairman, Berkeley Mineral Resources 020 7408 1181

 

Stewart Dickson / Jonathan Wright, Seymour Pierce 020 7107 8000

 

Michael Padley / Gary Middleton, Lothbury Financial Services 020 7868 2010

 

Notes to editors 

BMR is a minerals company with a primary strategy of investing in tailings processing. By accessing dump deposits with known grades and metallurgy, it avoids exploration or mining costs, has a secure licence and fixed environmental criteria, and can produce concentrates according to viability at current market prices.

 The Kabwe deposits, located approximately 110km north of the Zambian capital Lusaka, were discovered in 1902. From 1906, Kabwe was a significant mine. By the time it closed in 1994, due to depletion of the massive sulphide mineralisation and lowered metal prices, it had produced about 1.8m tonnes of zinc, 800,000t of lead, 7,800t of vanadium pentoxide and lesser quantities of cadmium, silver and copper. After closure, most of the mine complex was sold off on a piecemeal basis. BMR's project is part of an overall plan to re-assemble the Kabwe site into a single entity operating under a single Large Scale Mining Licence.

The waste dumps at Kabwe cover an area of about 1km² and contain over 7m tons of various waste residues with an estimated combined metal content of 455,000t zinc and 368,500t lead.

BMR benefits from the existing infrastructure at Kabwe, including processing plant, good roads, water supply, ample power, local labour and direct on-site sidings connection to overseas markets via international railways to South Africa and to Indian Ocean ports.

For further information please see the Company's website at http://www.bmrplc.com

The directors of Berkeley Mineral Resources accept responsibility for this announcement.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQGGGBCPUPUGQU
Date   Source Headline
20th Jan 20177:00 amRNSVanadium Update
10th Jan 20177:00 amRNSKashitu, Kabwe Prospect Geological Update
6th Jan 20177:00 amRNSWarrant exercise period
29th Dec 20167:00 amRNS2016 Final Results and AGM Notice
6th Dec 20167:00 amRNSKabwe Update and OPEX Costs
29th Nov 201612:40 pmRNSUpdate Re Metal Tiger
28th Nov 201612:00 pmRNSRe Metal Tiger plc
25th Nov 20164:20 pmRNSStatement re. Possible Offer & R 2.9 announcement
17th Nov 201611:00 amRNSExclusive Option Agreement
17th Nov 20169:00 amRNSKabwe Plant Construction Update
14th Nov 20167:11 amRNSOption to Acquire Interest in Ester Project
14th Nov 20167:00 amRNSOption to Acquire Interest in Ester Project
31st Oct 20163:53 pmRNSHolding(s) in Company
28th Oct 20167:00 amRNSPlacing to raise £620,000
3rd Oct 20167:00 amRNSISF Slag Laboratory Tests Completed
28th Sep 20167:00 amRNSWaelz Kiln Slag (WKS) Update
27th Sep 20168:36 amRNSHolding(s) in Company
26th Sep 20162:19 pmRNSHolding(s) in Company
23rd Sep 20167:00 amRNS$5.2m Project Construction&Trade Finance Facility
16th Aug 20167:00 amRNSExclusive Option Agreement
8th Aug 20167:00 amRNSOff-take Agreement and General Update
1st Aug 20167:00 amRNSOfftake Agreement
30th Jun 20167:00 amRNSKabwe Project Update and Activities
1st Jun 20167:00 amRNSPilot Plant Update with Letter of Intent
31st May 20167:00 amRNSExpected costings: Kabwe Pilot Plant construction
17th May 20167:00 amRNSSubmission of Environmental Project Brief to ZEMA
6th May 20167:00 amRNSConfirmation of ZEMA approval
22nd Apr 20167:00 amRNSPlacing and appointment of Joint Broker
24th Mar 20167:00 amRNSInterim Results
24th Feb 20167:00 amRNSConfirmation of ZEMA public hearing
23rd Feb 20164:40 pmRNSHolding(s) in Company
18th Feb 20167:00 amRNSResult of Open Offer
10th Feb 201612:00 pmRNSResult of AGM
28th Jan 20168:04 amRNSZEMA Report Available on Website
15th Jan 20169:11 amRNSOpen Offer -Change to Ex-entitlement and Timetable
15th Jan 20167:00 amRNSOpen Offer
18th Dec 20157:00 amRNSSubmission of Final Report to ZEMA
17th Dec 20157:00 amRNS2015 Final Results and AGM Notice
27th Nov 20158:42 amRNSHolding(s) in Company
9th Nov 20157:00 amRNSSurrender of lease and change of registered office
28th Oct 20156:00 pmRNSPlacing to raise GBP 750,000
16th Oct 20152:20 pmRNSLand & Equipment Lease Update
12th Oct 20157:00 amRNSZEMA Update
5th Oct 20157:00 amRNSPotential market for Waelz Kiln Slag
28th Sep 20157:00 amRNSLand and equipment lease agreement
22nd Sep 20157:00 amRNSBMR's Kabwe treatment project
19th Aug 20157:00 amRNSZEMA Update
31st Jul 20157:00 amRNSSignificant Testing Progress Update
25th Jun 20157:00 amRNSResults of the Metallurgical Test Programme
15th Jun 20157:00 amRNSGrant of Options

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.