Korean Recycling Project Groundbreaking (8747C)

TIDMZOX

RNS Number : 8747C

ZincOx Resources PLC

14 March 2011

ZincOx Resources plc ("ZincOx" or "the Company")

Korean Recycling Project Groundbreaking

ZincOx Resources plc held a Groundbreaking Ceremony on Friday 11 March for its wholly owned Korean Recycling Plant in South Korea. The ceremony was attended by the Governor of Gyeongsangbuk-do Province, the mayor of the city of Geongju and the deputy Chairman of KOSA (The Iron and Steel Association of Korea).

The Ceremony follows the recent completion of the site construction offices. The combined engineering teams of ZincOx and Xmetech, the EPCM contractor, have begun to move on site.

The procurement phase of the development is well underway and the project remains on budget and on schedule for completion in the first quarter of 2012 with the second phase scheduled for completion before the end of 2013.

The dismantling and removal of the rotary hearth furnace and other equipment purchased in the USA was completed in December 2010. All of this plant is now being refurbished by the original manufacturers and will be shipped to Korea in May. Infrastructural development at the site will be undertaken over the coming six weeks and the construction of foundations will commence in April.

Commenting on the announcement, Andrew Woollett the Chairman of ZincOx said "We are making excellent progress with the development of the project. The speed at which we have been able to implement our plans over the past six months has only been possible due to the wonderful support we have had from KOSA and the Korean government at local, provincial and national levels."

For further information, please contact:

ZincOx Resources plc

Andrew Woollett, Executive Chairman

Peter Wynter Bee, Managing Director

[phone]

Nominated Adviser and Broker

Ambrian Partners Limited

Andrew Craig / Jen Boorer

[phone]

Tavistock Communications

Charlie Geller / Paul Youens

[phone]

Notes to editors

ZincOx is focused on recovering zinc from Electric Arc Furnace Dust, a hazardous material with high zinc content (22%). Approximately 7m tonnes of EAFD is produced globally per annum, with over a third emanating from Asia, and about half going to landfill.

The company has modified an existing process, increasing the amount and quality of zinc concentrate that is recovered from EAFD, whilst also recovering a saleable iron product. This technology represents a considerable leap forward both economically and environmentally.

The first plant is being built in Korea, where long term supply agreements for EAFD have been agreed and the company benefits from Foreign Investment Zone status, providing 5 years rent and tax free status.

The Korea Recycling Project (KRP) will be developed in two equal phases, with the first phase due to be commissioned in Q1 2012 the second Phase in 2013. Phase 1 is scheduled to produce 46,000 tonnes per annum of zinc in an oxide concentrate containing 58% zinc.

The company has a strong, experienced management and technical team with the ability to roll the concept out globally.

This information is provided by RNS

The company news service from the London Stock Exchange

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