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
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
