Venturex and Trafigura sign Sulphur Springs copper-zinc ore agreement with an annual zinc concentrate output of 75000 tons

SMM8, July 7 -: Venturex Resources has reached a debt financing and off-take agreement with Trafigura (Trafigura) to receive A $100m (US $70 million) from Trafigura to develop the Sulphur Springs copper and zinc project.

The project expects an annual output of 65000 tons of copper concentrate with a grade of 25 per cent. The annual output of zinc concentrate reaches 75000 tons with a grade of 50%.

In addition to the financing agreement, the two companies signed a off-take agreement.

Under the agreement, Tok will receive production in the first 11 years of the project's operation, after which Trafigura will receive 50 per cent of the project's annual concentrate production.

However, Venturex also signed an agreement with Toho Zinc, which provides for Toho Zinc to obtain 280000 tons of zinc concentrate after the first five years of operation of the Sulphur Springs copper-zinc project.

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