Global Atomic updates operational status of Zinc Recycling Plant

Global Atomic Corporation announced that the Company’s joint venture, Befesa Silvermet Turkey (“BST”), zinc production plant, is expected to resume operations in early March, following the earthquake of February 6, 2023.

The BST plant sustained only minimal damage and following a thorough assessment, has been declared operational. The required local infrastructure is operating. The neighbouring steel mills that supply Electric Arc Furnace Dust (“EAFD”) to the plant are also operating.

President and CEO, Stephen Roman, commented, “We were very relieved that the employees at our joint venture operation in Türkiye survived the initial earthquake and aftershocks that hit the region.  Many, however, lost family members and suffered significant damage to their homes. BST is stepping in and providing financial support to our employees to help them get back to normal. Our people are dedicated and want to get back to work with income to support their rebuilding efforts.”

About Global Atomic

Global Atomic Corporation is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production. The Company’s Uranium Division includes four deposits with the flagship project being the large, high-grade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration.

With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger, the Dasa Project is fully permitted for commercial production.  The Phase 1 Feasibility Study for Dasa was filed in December 2021 and estimates yellowcake delivery to utilities to commence in 2025.  Mine excavation began in Q1 2022.

Global Atomic’s Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a modern zinc production plant, located in Iskenderun, Turkey. The plant recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (Befesa) holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe, Asia and the United States of America.