Spitfire acquires Zambian limestone project
Published: Friday, 21 August 2015
The Australian explorer aims to tap into increasing demand for cement in Africa, fuelled by infrastructure development and strong GDP growth on the continent.
ASX-listed Spitfire Resources Ltd has
completed its acquisition of the White Lion limestone project,
based 100km from the Zambian capital, Lusaka.
The site has been bought from
Mauritius-based White Lion Group in return for a package that
consists of approximately 217m ordinary shares in Spitfire plus
100 performance shares.