Pact signed for offtake of output from Oman copper-gold project

Pact signed for offtake of output from Oman copper-gold project

Al Hadeetha Resources LLC (AHRL), an Omani-Australian joint venture, has signed an exclusive offtake deal with Trafigura Pte Ltd, a market leader in the global commodities industry, covering the production of copper concentrate from the Wash-hi Majaza Copper-Gold Project in the Wilayat of Al Mudhaibi in Oman.

Under the agreement, Trafigura will purchase the full output of copper concentrate from the project for eight years from commencement of production. Pricing is based on the official London Metal Exchange cash settlement quotation for Grade A copper at the time of delivery.

The project comprises three exploration licences: (Wash-hi Majaza, Mullaq and Al Ajal); one mining licence (Wash-hi Majaza); and a copper concentrator plant (under construction) with the capacity to process one million tonnes of copper ore per annum when completed.

The project is expected to be a game-changer in the new era of copper mines being developed in the Sultanate of Oman in response to the rapidly growing world demand for sustainable energy.

Following the signing of the offtake agreement, Atmavireshwar Sthapak, Managing Director of Alara and AHRL said: “We are very excited that Trafigura and Al Hadeetha Resources are partnering to transform the mining landscape in the Sultanate of Oman. We are highly indebted