LONDON (ShareCast) - (Sharecast News) - Firering Strategic Minerals announced on Monday that it has recorded its first sales of high-purity quicklime from its Zambian subsidiary Limeco Resources, marking a key step toward revenue growth as it ramps up operations at the large-scale limestone site west of Lusaka.
The AIM-traded firm said quicklime produced from the site's first kiln had achieved purity levels of 85% to 90%, exceeding the 80% industry benchmark for metallurgical use.

Daily output currently stood at 50 tonnes, with a target of reaching steady-state production of 80 to 100 tonnes per day.

Early interest from local and regional customers had already translated into initial sales, though pricing and client details remained commercially sensitive, the company explained.

With the optimisation of kiln one progressing, Limeco had started upgrade work on Kilns two, three and four as part of a modular expansion plan.

The company said initial delays due to operational fine-tuning were now resolved, providing valuable insights to streamline subsequent kiln commissioning.

In addition to quicklime, Limeco said it was continuing to generate cash flow through aggregate sales and ancillary services.

Firering said it was also in advanced discussions with a leading Zambian bank to finalise funding under a previously-announced term sheet.

If completed, the financing would allow Firering to increase its stake in Limeco to 45% and repay an outstanding bridge loan.

"We are delighted to report Limeco's first sales of quicklime have been secured, which is a major milestone in our journey towards establishing the operation as a leading regional supplier of this essential industrial product,2 said chief executive officer Yuval Cohen.

"While its optimisation continues to progress carefully and steadily, kiln one is currently producing commercial quality quicklime at around 50 tonnes per day and serving as a robust operational model as we move into the commissioning of kilns two to four."

Cohen said the ramp-up at Limeco was well timed, aligning with the Zambian government's drive to increase copper output, evidenced by a 30% year-on-year rise in the first quarter of 2025.

"By producing high-purity quicklime locally, Limeco reduces reliance on imports, cuts transport costs and emissions, and delivers a more cost-effective, reliable, and sustainable solution that supports Zambia's industrial growth and decarbonisation goals."

At 1446 BST, shares in Firering Strategic Minerals were down 2.5% at 3.12p.

Reporting by Josh White for Sharecast.com.

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