Canadian Zinc Signs Offtake Agreements with Korea Zinc and Boliden

Canadian Zinc Corp. (TSX:CZN,OTCQB:CZICF) announced that it’s signed memorandums of understanding (MOUs) for the sale of zinc and lead concentrates from its Prairie Creek mine. The MOUs are with Korea Zinc Co. Ltd. (KRX:010130) and Boliden AB (STO:BOL).
As quoted in the press release:

Canadian Zinc (“the Company”) has entered into a Memorandum of Understanding with Korea Zinc for the sale of approximately 20,000 to 30,000 wet metric tonnes of zinc sulphide concentrates, approximately 15,000 to 20,000 wet metric tonnes of lead sulphide concentrates and approximately 5,000 tonnes of lead oxide concentrates, per year, for a minimum period of five years from the date of startup of the Prairie Creek Mine, with exact annual quantities to be mutually agreed.
The Company has also entered into a Memorandum of Understanding with Boliden for the sale of a minimum of 20,000 dry metric tonnes and up to 40,000 dry metric tonnes of zinc sulphide concentrates, per year, for a minimum of five years from the start of regular deliveries, with exact annual quantities to be mutually agreed.

John F. Kearney, chairman and CEO of Canadian Zinc, commented:

These offtake arrangements with two of the pre-eminent smelting companies in the world, confirming the marketability of Prairie Creek’s zinc and lead concentrates, represent a major step forward in the development of the Prairie Creek Mine and move Canadian Zinc closer to production.

Click here to read the full Canadian Zinc Corp. (TSX:CZN,OTCQB:CZICF) press release.