17 Oct 2011 07:00
17 October 2011
TRI-STAR RESOURCES PLC
("Tri-Star Resources" or the "Company")
Environmental Clearance for Antimony Roaster in UAE
Tri-Star Resources (AIM: TSTR.L), the antimony exploration and development Company, is pleased to announce that it has today received preliminary environmental clearance in respect of its proposed antimony roaster in the Emirate of Ras Al Khaimah ("RAK") in the UAE.
The Environmental Protection Department Authority ("EPDA") of RAK has issued Tri-Star Union FZ LLC ("Tri-Star Union"), a joint venture between Tri-Star Resources and Union International Holdings Group, with a preliminary "No Objection Certificate" on its proposed 20,000 tonne per annum antimony roaster and downstream facilities.
As announced on 26 July 2011, Tri-Star Union proposes to develop a 20,000 tonne per annum antimony metal and tri-oxide finished products facility, located in the Al Ghail Industrial Zone in RAK, which is owned and operated by the Ras Al Khaimah Investment Authority, the sovereign investment company of RAK.
Brian Spratley, Chief Executive Officer of Tri-Star Resources, commented:
"This project is an integral part of Tri-Star's ambition to become an integrated antimony producer. When complete, it will supply value added antimony products to customers in the EMEA region, not only from Tri-Stars own mines, but from third party concentrates on which we have already received expressions of interest.
"Tri-Star Union will produce regalus antimony (European Standard Grade 1&2) for export and a finished 'high tint' antimony tri-oxide with low lead for the European flame retardant markets as well as for the wider global chemical markets."
www.tri-starresources.com
Enquiries:
Tri-Star Resources plc Brian Spratley
| Tel:+44 (0)1233 629351 |
Strand Hanson Limited (Nomad) James Harris / Paul Cocker
| Tel: +44 (0)20 7409 3494
|
Keith, Bayley, Rogers & Co Limited (Broker) Simon Frost / Brinsley Holman
| Tel: +44 (0)20 3100 8300 |
Gable Communications Justine James / John Bick | Tel : +44 (0)20 7193 7463 |
Brian Spratley, the Company's Chief Executive Officer, has relevant experience within the sector and meets the criteria of a qualified person under the AIM note for mining, oil and gas companies and has reviewed and approved the technical information contained in this announcement.
Notes to editors
Tri-Star Resources is an antimony exploration and development company, with current projects in Turkey (Goynuk Project) and Canada (Stanley Project). Tri-Star Resources' strategy is to become an integrated antimony producer which it will achieve by addressing the antimony production process by building a Roaster in the UAE, one of the only to be constructed outside of China.
Antimony
World antimony prices have recently risen to US$15,800 tonnes following renewed concerns on deliveries from China, which still accounts from some 90% of world output. Antinomy is used principally for its fire retardant properties. As there are few immediate substitutes for the metal, demand for antimony is expected to remain strong for a number of years ahead. This was further confirmed in the recent British Geological Society report which ranks antimony top of its most critical metal ranking it above platinum, tungsten and rare earth metals.