Fluormin PLC Witkop Update (5326O)
2012年10月12日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
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RNS Number : 5326O
Fluormin PLC
12 October 2012
Fluormin plc
("Fluormin" or the "Company")
WITKOP MINE
LONDON, UK -- (Marketwire - 12 October 2012)
Fluormin Plc (AIM: FLOR) announces that it is to place the
Witkop mine ("the mine") on care and maintenance, following further
weakness in the fluorspar market.
Despite an improvement in the Company's operational performance
and significant cost reductions, the prevailing price for acid
grade fluorspar has fallen below current operating costs. Having
met with trade union representatives in South Africa it was
concluded to place the mine on care and maintenance with effect
from the close of business on 12 October 2012.
In the short term, the Company will focus its activities on
expanding its mineral resources and mine planning of higher grade
deposits and in particular, the Valley deposit.
Further updates will be released as appropriate.
Mark Bolton, Company CEO, commented "It is with regret that the
decision has been made to place the Witkop mine on care and
maintenance. However, in the current economic environment, it was
concluded following negotiations with the trade unions that the
only defensible strategy for the Company was to place the mine on
care on maintenance at this time. Recommencement of operations will
be contemplated when the fluorspar industry enters into a more
favourable price environment. By keeping the mine on care and
maintenance the Company is seeking to minimize both the cost and
challenges associated with restarting operations at Witkop at such
time as the Fluorspar market improves."
About Fluormin Plc
Fluormin is a producer of acid grade fluorspar, an industrial
mineral widely used in the chemical and aluminum industries for the
making of products such as HFCs (Hydrofluorocarbons used as
refrigerant gases like Freon (TM)) and aluminum fluoride.
Contact Information
Fluormin plc
Mark Bolton, Chief Executive Officer +44 (0) 20 7034 7150,
mbolton@fluormin.com
Westhouse Securities
Martin Davison +44 (0) 20 7601 6100,
martin.davison@westhousesecurities.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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