PERTH (miningweekly.com) – Metals miner Alara Resources has signed an offtake agreement for the supply of some 35 000 t of copper concentrate from its Al Hadeetha project, in Oman.
The company said on Thursday that, under the terms of the agreement, the concentrate will be shipped at regular intervals from the Sohar port, with the agreement including a prepayment of $6-million to assist in funding the construction of the project and mine start-up.
Alara told shareholders that the agreement formed an important part in financing and development of the Al Hadeetha mine and processing plant, and had been completed in discussion with bank representatives.
The Al Hadeetha project incorporates three exploration licences in Oman located east and southeast of Alara’s Daris project.