PERTH (miningweekly.com) – Junior Red River Resources has signed an offtake agreement with mining major Glencore over its Thalanga zinc project, being developed in Queensland.
Glencore is expected to take delivery of the copper concentrate at the Thalanga mine gate, with the offtake agreement running for a period of three years from the start of commercial production at Thalanga.
The project is expected to produce a yearly average of 21 400 t of zinc, 3 600 t of copper, 5 000 t of lead, 2 000 oz of gold and 370 000 oz of silver in concentrate over five years.
“We are extremely pleased to have entered into a copper concentrate offtake agreement with Glencore. This is a key milestone for Red River. Being able to deliver concentrate at the mine gate to Glencore is very advantageous to both companies,” said Red River MD Mel Palancian.
“This represents the culmination of a highly competitive copper concentrate offtake process that commenced at the end of 2016.”