Limeco Project

Limeco was initially established by Glencore plc due to the shortage of quicklime in Zambia and the need for quicklime at its Mopane operatons in Zambia. In total, over $US100m has been invested in establishing the limestone quarry and constructing the current lime plant. The lime plant consists of a two stage crushing circuit with an installed primary throughput of 500tph of limestone, and a quicklime production unit comprising eight kilns for burning crushed limestone to produce between 500 and 600 tonnes of quicklime per day.

Over $100 million has been historically spent on the development of the mine and processing plant
In October 2017, Golder Associates visited Limeco and produced an in-situ mineral resource estimate of 73.7Mt @ 95.3% CaCO3 (Source: Golder Associates, report 1776596-002-R-Rev0, 05 October 2017).

First geological mapping and diamond drilling were completed in 2012 when 37 drill holes were drilled with an average depth of 66m for a total of 2,517m. This was followed by the development of a resource model in 2013. A further drilling programme (23 drillholes totalling 1,610m) was then completed southeast of the drilling done in 2012. This was followed in 2017 with an infill drilling programme comprising another 65 drillholes totalling 4,022m.

Limestone production from the quarry commenced in March 2016 and ceased in January 2017. Crushed limestone (-90mm +60mm) was fed to only two kilns during that Ime. The majority of the blasted limestone was stockpiled adjacent to the primary crusher and will serve as initial feedstock when the kilns are being commissioned. 

Next Steps: Production Potential of 600 - 800 tons of Quicklime per day
Our focus is on starting commissioning in Q4 2024, ramping up production and becoming cash generating.


In November 2024 we published our maiden JORC Code Compliant Mineral Resource Estimate for Limeco and totals 145.2Mt at 95.7% CaCO3, comprising 11.8Mt in the Measured category, 55.4Mt in Indicated, and 78.0Mt in Inferred.
The resource provides for over 50 years of potential quicklime production.

Maiden JORC Compliant MRE
The gross Mineral Resource for Domain A is 145.2 Mt comprising 11.8 Mt in Measured, 55.4Mt in Indicated and 78.0Mt in Inferred (Table 1).

Table 1: Domain A gross Mineral Resource for Limeco Resources (Earthlab, November 2024)

Category

Tonnes
after 5% geoloss (Mt)

 CaO
(%)		 CaCO3
(%)		 MgO
(%)		 Fe2O2
(%)		 Al2O2
(%)		 SiO2
(%)		 LO
(%)
Measured 11.8 53.7 95.8 1.2 0.1 0.2 0.6 42.8
Indicated 55.4 53.5 95.5 1.2 0.2 0.2 0.8 42.6
Measured + Indicated 67.2 53.5 95.6 1.2 0.2 0.2 0.8 42.7
Inferred 78.0 53.6 95.7 1.5 0.2 0.4 0.9 42.1
Total 145.2 53.6 95.7 1.4 0.2 0.3 0.8
 42.4


Total gross potential saleable quicklime for Domain A is 31.9Mt comprising 2.6Mt in Measured, 12.1Mt in Indicated and 17.2Mt in Inferred (Table 2).

Table 2: Domain A gross potential saleable quicklime for Limeco Resources (Earthlab, November 2024)

Category

Tonnes
after 5% geoloss (Mt)

 CaO
(%)		 MgO
(%)		 Fe2O2
(%)		 Al2O2
(%)		 SiO2
(%)
Measured 12.6 96.3 2.1 0.2 0.3 1.1
Indicated 12.1 95.6 2.2 0.3 0.4 1.4
Measured + Indicated 14.7 95.8 2.2 0.3 0.4 1.4
Inferred 17.2 94.6 2.7 0.4 0.8 1.5
Total 31.9 95.1 2.5 0.3 0.6 1.5

Total gross potential saleable aggregate for Domain A is 87.1Mt comprising 7.1Mt in Measured, 33.2Mt in Indicated and 46.8Mt in Inferred (Table 3).

Table 3: Domain A gross potential saleable aggregate for Limeco Resources (Earthlab, November 2024)

Category

Tonnes
after 5% geoloss (Mt)

 CaO
(%)		 CaCO3
(%)		 MgO
(%)		 Fe2O2
(%)		 Al2O2
(%)		 SiO2
(%)		 LO
(%)
Measured 7.1 53.7 95.8 1.2 0.1 0.2 0.6 42.8
Indicated 33.2 53.5 95.5 1.2 0.2 0.2 0.8 42.6
Measured + Indicated 40.3 53.5 95.6 1.2 0.2 0.2 0.8 42.7
Inferred 46.8 53.6 95.7 1.5 0.2 0.4 0.9 42.1
Total 87.1 53.6 95.7 1.4 0.2 0.3 0.8
 42.4