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
Picture of antimony as nuggets

Tungsten Mining locks in high-grade concentrate after metwork; offtaker samples sent

ASX-listed Tungsten Mining (ASX: TGN) might soon find itself with an offtake partner after sending to several such potential

Tungsten tough – critical mineral attracting massive investment across the globe

Tungsten is widely known as one of the toughest elements available and it has become one…
The ASX Today feature image with a blue Australia silhouette (STOCK) beside The Market Link column branding.

ASX Today: XJO treads in face of many headwinds; whatever the hell AI firms are playing at

Greetings and welcome to HotCopper‘s ASX Today intraday market summary, I’m Jonathon Davidson filling in for the team while the Perth office set
Silver oil concept

Oil ETF investors have had a bumper year thus far, and it’s likely to continue

While ETFs sometimes turn off daily traders and speccy enthusiasts given they tend to be on the whole a bit more tame, those