SigmaRoc enters partnership to repurpose quarry spoil

1st Jul 2024 10:16

(Sharecast News) - SigmaRoc announced a 10-year strategic alliance with Duo Group on Monday, to produce and sell sustainable limestone aggregates in the UK, a move projected to generate over £150m in incremental revenue while reducing environmental impact through the repurposing of limestone quarry waste.

The AIM-traded firm said the partnership was a significant step towards its goal of fully using the resources extracted from its quarries.

It said the agreement would see Duo Group setting up state-of-the-art processing plants at up to seven SigmaRoc limestone quarries.

The plants would reprocess historically-uneconomical quarry tip waste into premium construction material, in a bid to extend the operational life of the quarries and conserve natural resources, aligning with sustainable development goals by ensuring the complete use of quarried resources.

"We are delighted to partner with Duo Group on this project," said Michael Roddy, group managing director of the North West Region at SigmaRoc.

"This partnership marks another significant step forward in our commitment to sustainability."

SigmaRoc said quarry tips, or spoil tips, consist of previously-uneconomical materials discarded during quarrying operations.

By repurposing the materials using Duo Group's advanced processing equipment, the alliance was aiming to transform the resource into valuable construction material.

The structure of the alliance would see Duo Group establish large-scale reprocessing plants to manage material preparation, processing, loading, hauling, plant operation, and material dispatch.

SigmaRoc said it would provide the alliance with all unprocessed tipped materials, which previously held no commercial value, thus turning waste into a commercially viable product.

"This is exciting news for the Group, proving both our ability to drive increased value as well as bringing us closer to achieving our goal of 100% utilisation of all production materials," added chief technical officer Charles Trigg.

At 0949 BST, shares in SigmaRoc were up 1.05% at 67.1p.

Reporting by Josh White for Sharecast.com.