Keras completes construction at Diamond Creek phosphate mine

The AIM-traded firm said that once the plant is at a steady-state operational capacity, which was expected by the end of June, it would produce a range of “premium organic” phosphate products for sale directly into the growing North American organic fertiliser market.

Completing the plant build was described by the Keras board as a “significant step forward” in the optimisation, production ramp-up and expansion plans for Diamond Creek, which is owned by its 51% subsidiary Falcon Isle Holdings.

The plant would ensure efficient beneficiation, while removing the need for external toll treatment.

“I am very pleased to see the processing plant build complete and we now look forward to steady-state production post the commissioning period,” said chief executive officer Russell Lamming.

“Diamond Creek is the one of the highest-grade organic phosphate mines in the United States, and installing this plant will enable us to extract maximum value and sell a range of fully certified, high-quality products into a growing organic fertiliser market.

“We look forward to getting this year's mining campaign underway during the second quarter of 2021 and reporting on our progress in due course.”

At 1044 BST, shares in Keras Resources were up 6.19% at 0.11p.