ZincOx Resources starts commissioning Korean zinc recycling plant
ZincOx Resources (LON:ZOX) told investors that it has now begun commissioning its zinc recycling plant in South Korea.
The recycling plant is on schedule to begin the first phase of production in the first quarter of next year. After that the plant will ramp up production over a six month period.
Through commissioning the company will test the mechanical equipment in the plant.
"I am very encouraged to report on the start of the commissioning activities which represent the final chapter of our development activities for first production phase, and we look forward to starting production on schedule in the first quarter of next year," said chairman Andrew Woollett.
The project was budgeted at US$110 million including US$8 million for working capital. Zincox said that it has spent and committed just over US$94 million on construction. The project is expected to be completed slightly under budget, it added.
All the plant's major equipment has been installed except the hot briquetting section. All the buildings are nearing completion.
Additionally it said the preparations for production are also on track.
ZincOx has now filled the senior management positions and it said that roughly half of the plant operators have been recruited. Training is expected to start shortly. The production offices are now fully operational and management personnel have moved in.
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