ZincOx fully focused on recycling

United Kingdom – Metals recycler ZincOx Resources has reported considerable losses after evacuating the Jabali project in Yemen as a result of the country’s political unrest. However, the company also notes that, for some time, the stock market has given ‘no credit’ for the Jabali venture, adding that the interest of its major shareholders continues to be focused exclusively on its recycling business which is making very positive progress.

The company is currently concentrating on the development and commissioning of its first plant in South Korea. ZincOx, which specialises in the low-cost recovery of high-grade zinc compounds from unconventional sources, says its Korean Recycling Project (KRP) is on track to become the company’s first recycling venture to be put into production. The project has been awarded Foreign Investment Zone status and a 50-year lease has been agreed for the KRP site. More recently, an offtake agreement has been reached with the formal documentation for loans to be provided by Korea Zinc Co. for the development of Phase 1 of the KRP.
According to Andrew Woollett, Chairman of ZincOx Resources, the project is well under way and remains on budget and schedule to achieve first production ten months from now.