Force finds offtake for prospective Tshimpala
PERTH (miningweekly.com) – ASX-listed Force Commodities has signed a binding offtake agreement with Swiss-based Transamine Trading SA over the lead and silver production from its Tshimpala project, in Malawi.
Under the terms of the agreement, Transamine would purchase all of the high-grade lead and silver produced from the Tshimpala project on an evergreen basis, with pricing to be based on the prevailing LME benchmark price.
Force on Wednesday told shareholders that it was currently finalising arrangements with a logistics company to transport the lead and silver product from the Tshimpala project to the Port of Beira, in Mozambique, and into major ports in Asia.
“I am delighted that we have been able to finalise this offtake agreement with such a well-respected and established global commodities trading group as Transamine,” said Force MD Jason Brewer.
“This offtake agreement has been executed within ten days of the company completing its acquisition of the Tshimpala project and represents a significant vote of confidence and validation of that transaction.”
Force earlier this month obtained a majority shareholding in the Tshimpala project, after gaining a 64% shareholding in Switzerland-based TerraCare AG, which holds an 80% interest in Galena Mining, which, in turn, holds the Tshimpala project.
Force issued an initial 40-million fully paid ordinary shares for its shareholding in TerraCare, and would issue a further 40-million shares once Galena had completed the sale of 500 t of contained lead from the Tshimpala project.
As part of its initial work at Tshimpala, Force will undertake a Phase 1 exploration and development programme, which will consist of test pitting, trenching, sampling and geological mapping and modelling.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation