Kropz PLC Hinda Update (9240N)

TIDMKRPZ

RNS Number : 9240N

Kropz PLC

04 February 2021

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

4 February 2021

Kropz Plc

("Kropz" or the "Company")

Hinda Update

Kropz Plc (AIM: KRPZ), an emerging African phosphate explorer and developer, is pleased to announce an update for its Hinda phosphate project ("Hinda"), located in the Republic of the Congo ("RoC").

Kropz has appointed Hatch Africa (Pty) Ltd ("Hatch"), a leading global engineering and construction firm, to complete the updated feasibility study ("Updated FS") on Hinda. This follows the conclusion of the focussed logistics study, completed by Hatch in September 2020. The Updated FS will target a phased approach in line with the terms of the mining investment agreement, with initial production of one million tonnes per annum ("Mtpa") of phosphate rock being exported from the existing port facility at Pointe-Noire, which is 50 km from Hinda. A second phase production ramp-up of two Mtpa will also be evaluated with export from a new port site, located north of Pointe-Noire.

The RoC is experiencing its second wave of the COVID-19 pandemic. However, this is not currently impacting on the work schedule being undertaken by Hatch.

The Updated FS will be concluded by the end of September 2021. The Company will announce the results as soon as they become available.

For further information visit www.kropz.com or contact:

 
 Kropz Plc 
 Mark Summers (CEO)              [phone] 
 
 Grant Thornton UK LLP           Nominated Adviser 
 Samantha Harrison 
  Harrison Clarke 
  George Grainger                [phone] 
 
 Hannam & Partners               Broker 
 Andrew Chubb 
  Ernest Bell                     [phone] 
 
 Tavistock                       Financial PR & IR (UK) 
 Emily Moss                      [phone] 
  Jos Simson                      [e-mail] 
  Oliver Lamb 
 
 R&A Strategic Communications    PR (South Africa) 
 James Duncan                    [phone] 
                                  [e-mail] 
 

About Kropz Plc

Kropz is an emerging African phosphate explorer and developer, with an advanced stage phosphate mining project in South Africa and a phosphate project in the Republic of Congo. The vision of the Group is to become a leading independent phosphate rock producer and to develop into an integrated, mine-to-market plant nutrient company focusing on sub-Saharan Africa.

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February 04, 2021 02:00 ET (07:00 GMT)