Armdale to start South African coal briquetting operations

Armadale, the AIM quoted investment company focused on natural resource projects in Africa, have released details of Mining Restoration Investments Limited interim results for the period ended 31 August 2013. Armadale holds approximately 40% of the equity in MRI, which has coal briquetting operations and has developed technology to treat Acid Mine Drainage in South Africa.

These interim results confirm the successful commencement of commercial coal briquetting operations post period end, with the financial results for the period reflecting the necessary investment into the commissioning of the coal briquetting plant.

Justin Lewis, Director of Armadale and a member of the MRI Board said, “We are pleased to report that MRI’s coal briquetting plant successfully commenced operations in October 2013. The Board of MRI believe that this commercial development will contribute to the overall profitability of the MRI group as they continue to ramp up production. I look forward to providing further updates on the anticipated expansion in production in due course.

“In addition, we remain focused on increasing our investment in Netcom Global Inc, which holds a right to an interest in the highly prospective Mpokoto Gold Project in the Democratic Republic of Congo.”

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