Firering commissions first of eight kilns at Limeco project

(Sharecast News) - Firering Strategic Minerals announced the successful commissioning of the first of eight kilns at its Limeco quicklime project in Zambia on Thursday. The AIM-traded firm said the milestone marked a significant step in Firering's development as both a quicklime producer and critical mineral exploration company.

It said the commissioning of Kiln 1 followed the completion of final modifications in late November.

Test runs were underway, and the first production of quicklime was expected in early 2025.

Kiln feedstock, consisting of the -90mm to +60mm size fraction, had been stockpiled near the lime plant, with approximately 26,000 tonnes ready for processing.

Limeco was continuing to generate monthly operational positive cash flow through the production of aggregate from the -60mm stream, supporting Firering's strategy to scale operations and deliver long-term value.

"We are pleased with the excellent progress at Limeco, highlighted by yet another key milestone achieved with the commissioning of Kiln 1," said chief executive officer Yuval Cohen.

"Furthermore, the construction of the gasifier is nearing completion."

Cohen said it was an "exciting but busy period" for Limeco as it geared up for steady quicklime production from its first kiln, while advancing efforts to bring the remaining seven kilns online in phases during 2025.

"These achievements are set to establish Limeco as potentially Zambia's largest quicklime producer."

At 1232 GMT, shares in Firering Strategic Minerals were up 1.08% at 4.7p.

Reporting by Josh White for Sharecast.com.