BMR Mining to Construct Operational Plant on Own Land at Kabwe

LONDON--BMR Mining PLC (BMR.LN) said Friday that it has decided to construct the operational plant on the Company's own land at Kabwe, adding that it won't be proceeding with the leasing of land and equipment from Sable Zinc Kabwe Ltd.

Following a review of operations by the Company at Kabwe, BMR has now determined that the location of the initial Pilot Plant should be secured for the medium term and also under the Company's direct control.

Last month, Glencore PLC (GLEN.LN) agreed to lease land and equipment in Zambia held by its Sable Zinc Kabwe unit to BMR so the latter can build a proposed pilot plant adjacent to its tailings dump.

Whilst the Board is continuing to finalize the specification and costing of the operational plant, it does not believe that this decision will have a material adverse impact thereon, BMR said Friday.

"This decision reflects our focus on constructing a fully operational pilot plant that is capable of generating revenues for the Company," Chairman Alex Borrelli said.

--Alex MacDonald contributed to this article

-Write to Razak Musah Baba at [e-mail]; Twitter: @Raztweet

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October 16, 2015 09:45 ET (13:45 GMT)

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