Near-term zinc producer Red River Resources Limited (ASX: RVR) (“Red River” or the “Company”) is pleased to announce it has finalised offtake agreements for the zinc and lead concentrates to be imminently produced from its Thalanga Zinc Project, Northern Queensland, between Red River’s wholly owned subsidiary Cromarty Resources Pty Ltd (“Cromarty”) and Trafigura Pte Ltd (“Trafigura”) (the “Offtake Agreements”).
As quoted in the press release:
Red River’s Managing Director Mel Palancian commented: “The execution of zinc and lead concentrate offtake agreements with Trafigura is the culmination of a competitive process involving a number of leading trading and smelting companies. The highly competitive nature of the process has allowed us to obtain outstanding offtake terms for both zinc and lead concentrates which will contribute to the success of Thalanga. We look forward to building on our close working relationship with Trafigura as we complete the process of bringing the Thalanga Zinc Project back into production, which we are on budget and on schedule to achieve in 4Q CY2017.”