Equatorial Palm Oil (EPO) says its palm oil processing mill in Liberia has been completed.
The news has seen the shares gain 15% in morning trading, with the firm claiming production has now increased to full capacity of 5 tonnes per hour.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Michael Frayne, the company's Chairman, said the development was a key milestone:
"In addition to revenues from production of crude palm oil, the mill serves as an excellent training and development facility for our employees as we roll out our large scale planting programme."
Over the last year Equatorial Palm Oil has dropped 47% in value.
BS
-
Jeremy Hunt: Tech and defence will make Britain great again - investors should stay or risk missing outFor investors shifting away from the UK, tech and defence may well be opportunities worth staying for, the former chancellor Jeremy Hunt says.
-
Can the House of Lords change the government’s mind on controversial inheritance tax reforms?The House of Lords has launched an inquiry into inheritance tax changes on pensions and agricultural property relief - can the government’s plans be stopped?
