The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Alara Resources (AUQ) signs an exclusive offtake agreement for its Oman copper and gold project between its JV subsidiary and independent logistics business, Trafiguara
  • The long-term agreement covers the production of copper concentrate from its Wash-hi Majaza project
  • Trafigura will purchase the full output of copper concentrate from the project for eight years from the start of production, based on the official London Metal Exchange cash settlement quote for Grade A copper
  • Alara also obtains a US$3.45 million finance facility from Trafigura to fund the completion of the project
  • Shares are up 12 per cent, trading at 2.8 cents at 1:16 pm AEST

Alara Resources (AUQ) has signed an exclusive offtake agreement for its Oman copper and gold project between its JV subsidiary and independent logistics business, Trafiguara.

The long-term agreement covers the production of copper concentrate from its Wash-hi Majaza project.

The project has three explorational licenses, one mining license and a copper concentrate plant which is under construction with the capacity to process one million tonnes of copper per year once finished.

Trafigura will purchase the full output of copper concentrate from the project for eight years from the start of production with the pricing based on the official London Metal Exchange cash settlement quote for Grade A copper at the time of the delivery.

Alara has also obtained a US$3.45 million ($5.10 million) finance facility from Trafigura to fund the completion of the project.

AUQ was up 12 per cent, trading at 2.8 cents at 1:16 pm AEST.

auq by the numbers
More From The Market Online
HotCopper Daily Market Trends Graphic

Monday’s HotCopper trends: Haranga, Arafura, Meeka and other daily topics

With more than seven million daily users on the HotCopper forums, each and every discussion can…
H2 storage port concept

The Hydrogen X ETF is up nearly +200% YoY. What’s making hydrogen cool again?

Who remembers when Green Hydrogen was all the rage during the COVID years? No doubt, Fortescue Metals’ (ASX:FMG) Andrew

Lachlan Star hits high-grade gold in maiden drilling at New Waverley

Lachlan Star has received promising early high-grade assay results from its maiden diamond drilling program at…
Haranga has recently expanded drilling at the Lincoln gold project.

Haranga booms +30% after delivering maiden JORC MRE of 402Koz gold at 5.1g/t for Lincoln

Haranga Resources has a maiden JORC-compliant Mineral Resource Estimate for its Lincoln Gold Project in the…