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TNC to send Cloncurry copper to Glencore

23rd January 2024

By: Creamer Media Reporter

     

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ASX-listed True North Copper (TNC) on Tuesday announced a partnership with commodities major Glencore, which will process concentrate from the Cloncurry copper project, in Queensland, at its nearby Mt Isa smelter.

The binding offtake and toll-milling agreements with the industry major are significant milestones for the company and the project, says TNC MD Marty Costello.

“Glencore has agreed to purchase 100% of the copper metal produced at CCP and we can process up to one-million tonnes of ore, each year, through the nearby processing plant near Cloncurry.

TNC will be entitled to claim a 20% Queensland state royalty discount for all material processed through the Mt Isa smelter.

Costello notes that Cloncurry is fully permitted and “on track to soon be in production”.

Edited by Creamer Media Reporter

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