ZincOx Resources plc, headquartered in the U.K., has reported that Korean Recycling Plant (KRP), its wholly owned subsidiary, is in the final months of ramp-up stage to full production, which remains on target for the second quarter of 2014.
In a press release, ZincOx says its efforts, together with improvements in the zinc price, should result in 2014 becoming a turnaround year. The average London Metal Exchange (LME) zinc price for 2013 was $1,909, and “we have recently seen this price averaging $2,050 which can have a significant impact on the company’s earnings profile," the company says.
Andrew Woollett, ZincOx executive chairman, says, “We are very satisfied with the recent performance of the blind flange concept, which enabled production to continue while one line of heat exchangers was repaired. The timing of the refractory repair in December was unfortunate as it stalled our ramp-up momentum, but this has already been re-established, and we remain confident of achieving targeted full capacity. We are looking forward to a very productive 2014 and also to a firmer zinc price, which recently seems to be responding to the planned closure of major zinc mines.”
Get curated news on YOUR industry.
Enter your email to receive our newsletters.
Latest from Recycling Today
- Tariffs target steel exporters Brazil, Canada and South Korea
- Buy Scrap Software to showcase its software at Scrap Expo in September
- LG details recycling activities
- Algoma EAF is up and running
- Toyota-Tsusho completes acquisition of Radius Recycling
- CATL, Ellen MacArthur Foundation aim to accelerate circular battery economy
- Commentary: Expanded polystyrene is 98 percent air, 2 percent plastic and 100 percent misunderstood
- AMCS appoints general manager for North America