Progress Towards RSPO Certification

RNS Number : 9357W

Dekeloil Public Limited

25 August 2015

 

DekelOil Public Limited / Index: AIM / Epic: DKL / Sector: Food Producers

25 August 2015

DekelOil Public Limited ('DekelOil' or 'the Company')

Strong Progress Towards Gaining Certification to the Round Table for Sustainable Palm Oil

DekelOil Public Limited, operator and 51% owner of the vertically integrated Ayenouan palm oil project in Cote d'Ivoire, is pleased to announce it has made significant progress towards achieving its objective to become a certified producer of palm oil in line with the standards set by the Round Table for Sustainable Palm Oil ('RSPO'), which is recognised globally as a certification standard for sustainable palm oil.  DekelOil has been a member of RSPO since 2008.

·  DekelOil's objective is to become the first RSPO certified, fully functioning producer of crude palm oil in Cote d'Ivoire and to be among the first in West Africa

· DekelOil has engaged Proforest, an internationally recognised environmental and social consulting group based in Oxford (United Kingdom), to assist with the implementation of social and environmental programmes to prepare its Milling operations and oil palm estates for certification

·  The Mill is anticipated to be certified first with the Company's oil palm estates to be certified within three years of the completion of the Mill certification

·  Proforest has been working with DekelOil over the past 12 months and completed a baseline assessment of DekelOil's activities against the requirements of the RSPO Principles and Criteria resulting in a detailed action plan

o DekelOil subsequently formed a Certification Committee chaired by the Chief Executive Office, Youval Rasin and has now made significant progress against the action plan

·   Successful membership application will clearly differentiate DekelOil from its peers, reinforcing its status as a responsible producer 

DekelOil Executive Director Lincoln Moore said, "We are strongly committed to developing a quality, sustainable palm oil operation in West Africa and are delighted to have commenced this process with RSPO.  This follows swiftly on the back of our appointment as an approved supplier to a World Bank-backed programme focused on improving the palm oil industry in Cote d'Ivoire to support local communities.  Both these developments demonstrate the increasing recognition our project is receiving from prestigious international organisations, and are testament to our pledge to positively impact our surroundings.  Proforest is run by experts in the responsible production of palm oil and we are excited to be working with them as we focus on becoming the first Crude Palm Oil producer in Cote d'Ivoire, and potentially West Africa, to be certified by this Round Table."

** ENDS **

For further information please visit the Company's website www.dekeloil.com or contact:

DekelOil Public Limited Youval Rasin Shai Kol Lincoln Moore	[phone]
Cantor Fitzgerald Europe (Nomad and Broker) Andrew Craig Chris Viggor	[phone]
Beaufort Securities Limited (Broker) Saif Janjua Elliot Hance	[phone]
Optiva Securities Limited (Broker) Christian Dennis Jeremy King	[phone]
St Brides Partners Ltd (Investor Relations) Elisabeth Cowell Frank Buhagiar	[phone]

Notes:

DekelOil Public Limited is a low cost producer of palm oil in West Africa, which it is focused on rapidly expanding.  To this end, it has a 51% interest in one of the largest oil processing mills based in Côte d'Ivoire, which has a capacity of 70,000 tons of CPO.  Feedstock for the Mill comes from mature palm oil plantations that have been secured under long term contracts with smallholders, however it also has nearly 1,900 hectares of its own plantations.  Furthermore, it has a world-class nursery with a 1 million seedlings a year capacity. 

 

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