New Century Resources Executes Major Long Term Zinc Concentrate Offtakes
Subiaco, WA / February 7, 2018 / JMN Wire / New Century Resources Limited (ASX: NCZ) (Company or New Century) is pleased to announce the execution of the first long term offtake agreements for zinc concentrate produced from the Century Zinc Mine with Mercuria Energy Trading SA (Mercuria) and Transamine Trading SA (Transamine).
The offtake agreements have been competitively negotiated, with terms reflecting the strong zinc market fundamentals and current scarcity in supply of large tonnage zinc concentrate offtake available around the world.
Commenting on the offtake agreements, New Century Managing Director Patrick Walta said:
“The execution of these initial offtake agreements represents another exciting milestone for New Century as we progress toward production in Q3 2018.
New Century is very pleased with the strong demand shown by smelters and commodity traders in its tender process, which is a clear demonstration of the quality of New Century’s concentrate and the current strong fundamentals of the market zinc.
The Company looks forward to building a long term successful relationship with its new partners at Mercuria and Transamine. We also look forward to finalising the development of other offtakes with shortlisted parties.”
- First long term offtake agreements executed with established commodity traders Mercuria Energy Trading SA and Transamine Trading SA
- Highly attractive terms underpin strong demand for Century zinc concentrate
- Further offtake contracts under development with other shortlisted customers
- Strong participation from smelters & traders in New Century’s concentrate tender
- Request for arbitration by Nyrstar concerning terminated legacy agreements