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Kropz PLC (KRPZ)

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Thursday 04 February, 2021

Kropz PLC

Hinda Update

RNS Number : 9240N
Kropz PLC
04 February 2021
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

4 February 2021

Kropz Plc
("Kropz" or the "Company")

Hinda Update

Kropz Plc (AIM: KRPZ), an emerging African phosphate explorer and developer, is pleased to announce an update for its Hinda phosphate project ("Hinda"), located in the Republic of the Congo ("RoC").

Kropz has appointed Hatch Africa (Pty) Ltd ("Hatch"), a leading global engineering and construction firm, to complete the updated feasibility study ("Updated FS") on Hinda. This follows the conclusion of the focussed logistics study, completed by Hatch in September 2020. The Updated FS will target a phased approach in line with the terms of the mining investment agreement, with initial production of one million tonnes per annum ("Mtpa") of phosphate rock being exported from the existing port facility at Pointe-Noire, which is 50 km from Hinda. A second phase production ramp-up of two Mtpa will also be evaluated with export from a new port site, located north of Pointe-Noire.

The RoC is experiencing its second wave of the COVID-19 pandemic.  However, this is not currently impacting on the work schedule being undertaken by Hatch.

The Updated FS will be concluded by the end of September 2021. The Company will announce the results as soon as they become available.

 

For further information visit www.kropz.com or contact:

 

Kropz Plc

 

Mark Summers (CEO)

+27 (0)79 744 8708

 

 

Grant Thornton UK LLP

Nominated Adviser

Samantha Harrison

Harrison Clarke

George Grainger

 

+44 (0) 20 7383 5100

 

 

Hannam & Partners

Broker

Andrew Chubb

Ernest Bell

 +44 (0)20 7907 8500

 

Tavistock

Financial PR & IR (UK)

Emily Moss

Jos Simson

Oliver Lamb

+44 (0) 207 920 3150

[email protected]

 

R&A Strategic Communications

PR (South Africa)

James Duncan

+27 (0)11 880 3924

[email protected] 

 

About Kropz Plc

Kropz is an emerging African phosphate explorer and developer, with an advanced stage phosphate mining project in South Africa and a phosphate project in the Republic of Congo. The vision of the Group is to become a leading independent phosphate rock producer and to develop into an integrated, mine-to-market plant nutrient company focusing on sub-Saharan Africa.

-ENDS-

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