7 Oct 2010 10:26
BERKELEY MINERAL RESOURCES PLC
("BMR" or "the Company")
APPOINTMENT OF BROKER
Berkeley Mineral Resources Plc is pleased to announce that Seymour Pierce has been appointed Broker with immediate effect and continues as Nominated Adviser.
Contacts:
| Masoud Alikhani, Chairman, Berkeley Mineral Resources | 020 7408 1181 |
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| Stewart Dickson / Jonathan Wright, (Corporate Finance) Jeremy Stephenson / Richard Redmayne (Corporate Broking) Seymour Pierce | 020 7107 8000 |
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| 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. Berkeley'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.