RSS UpdatesCompany Information for Zincox Resources Plc
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 AIM; ZOX
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Company Statement
ZincOx Resources (ZincOx) has developed proprietary technology, know-how and equipment designed to recover high grade zinc from electric arc furnace dust; a waste generated by the recycling of steel scrap. ZincOx is also developing a zinc deposit in Yemen, and has an interest in a zinc deposit in Kazakhstan.
Current Operations
Recycling
Over 4 million tonnes of EAFD are generated annually from steel mills – much of which is currently sent to landfill at considerable cost, as the dust contains quantities of cadmium and other hazardous wastes that need to be disposed of responsibly. Because of the galvanised nature of the scrap, the EAFD typically contains high grade zinc (from 15% to 25%), as well as 20% to 32% iron and other valuable metals.
ZincOx has developed a two stage process for the recovery of all the major metals contained in the steel waste. In the first stage of the process the zinc is driven off as an impure oxide concentrate in a rotary hearth furnace and the iron is converted to pig iron as a saleable product. The second stage will ultimately see the concentrates treated in an adapted smelter using solvent extraction technology. In 2006 ZincOx purchased the Big River Zinc smelter at St Louis, Missouri, which is being converted to treat the oxide concentrates from rotary hearth furnaces.
In recognition of the progress made by the company, it was awarded the Mining Journal’s Outstanding Achievement Award in the field of Sustainable Development in 2007.
Jabali Deposit, Yemen
The Jabali deposit is located 100 km north east of Sana’a, the capital of Yemen. It was mined for lead and silver about 1000 years ago and currently contains a geological resource of 12.6 million tonnes with a zinc grade of 8.9% incorporating a JORC compliant reserve of 8.7 million tonnes at a grade of 9.2%.
The deposit will be mined by open pit methods over a period of 12 years at the rate of 800,000 tonnes per annum of ore, for the production of 70,000 tonnes per annum (56,000 tonnes zinc contained) of high quality zinc oxide. Almost all zinc mines around the world sell an intermediate concentrate for sale to a conventional zinc smelter at a discount to the value of the zinc metal contained; Jabali, however, will sell its high quality product directly to end users in the ceramics and rubber industries at a premium to the value of the zinc contained.
Shaimerden Project, Kazakhstan
ZincOx sold its 95% interest in the deposit in December 2003 to Kazzinc, Kazakhstan’s largest producer of zinc for $7.5 million in cash. As part of the sale of the Shaimerden deposit, it was agreed that ZincOx Resources would also be due further annual payments in the early years of the mine’s life. The amount of such payments depends on the zinc price during the year and the quarterly reconciliation of the mine production with the geological model. To date, payments in respect of 130,174 tonnes have been received at an average price of $2,615 per tonne. Payment in respect of a further 60,000 tonnes is due in January 2010 and a final payment for 9,826 tonnes is anticipated in January 2011.
Geographical Spread
Kazakhstan - further payments from Shaimerden zinc oxide deposit
Yemen - 52% interest in Jabali zinc oxide deposit
Turkey - Aliaga - planned recycling of EAFD to recover zinc, lead, and iron
United States - Ohio - recycling of EAFD to recover zinc, lead, and iron in development
United States - St Louis – Big River Zinc refinery
Board of Directors and Key Management
| Executive Directors |
| Andrew Woollett |
| Peter Wynter Bee |
| Simon Hall |
| Jacques Dewalens |
| Simon Mulholland |
| Non-Executive Directors |
| Jeff Hewitt |
| Rod Beddows |
| Gilles Masson |
| Jerry Saville |
| Guy Lafferty |
| Company Secretary |
| Deborah Paxford |
Company AddressKnightway House
|
CapitalThe Company has options in issue over 5,870,117 shares |
Annual General MeetingJune | Year End31 December |
Nominated BrokersNumis Securities Ltd | Nominated AdvisorsNumis Securities Ltd |
Broker/Analyst Reports
14/01/08 - Numis Securities
Major Shareholders
| % of issued share capital | |
| Hoegh Capital Partners | 12.8 |
| JP Morgan | 9.1 |
| Sloane Robinson Investment | 9.6 |
| M&G Securities | 8.6 |
| Teck | 7.1 |
| Sisu | 4.9 |
| Scottish Widows | 4.5 |
| Aldersgate Investment | 4.4 |
Related News
17/09/09 - A Stronger Zinc Price Is Helping ZincOx Get Its Ducks In A Row, As Production From The Jabali Mine In Yemen Looms29/05/09 - ZincOx Will Be In Production In The First Half Of Next Year, Just As A Further Uptick In The Zinc Price Looks Likely
04/02/09 - How To Time The Next Market Upswing: ZincOx Ponders Its Next Move
24/09/08 - ZincOx Shaken But Not Stirred By Tough Market Conditions
16/06/08 - ZincOx Closes The Financing For Its Ohio Recycling Project, To A Mixed Reception
30/04/08 - Healthy Profits Provide Underlying Support As ZincOx Advances Its Recycling Plans
Most Recent Statement
25/01/10 - Jabali Debt Financing Settlement18/01/10 - Completion of US Recycling Equipment Acquisition
18/12/09 - Acquisition of Recycling Equipment in USA
10/12/09 - Jabali Financing Update
18/11/09 - Jabali Debt Financing
02/10/09 - Jabali Debt Finance