Tri-Star Resources PLC JV Antimony Concentrate Supply Agreement (9368H)
13 June 2017 - 7:16PM
UK Regulatory
TIDMTSTR
RNS Number : 9368H
Tri-Star Resources PLC
13 June 2017
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No. 596/2014 until the release of this
announcement
13 June 2017
Tri-Star Resources plc
("Tri-Star" or the "Company")
Joint Venture Antimony Concentrate Supply Agreement
Tri-Star is pleased to announce that Strategic & Precious
Metals Processing LLC ("SPMP") has signed a multi-year agreement
with Traxys Europe SA ("Traxys") to supply antimony and antimony
gold concentrates to SPMP's Oman Antimony Roaster ("OAR"), now
under construction in the Port of Sohar Free Zone, in the Sultanate
of Oman. The Company has a 40% equity interest in SPMP, a company
incorporated in Oman.
SPMP reports that this strategic alliance provides SPMP access
to the global expertise provided by Traxys on minor metal
concentrate sourcing and supply chain logistics management. Under
the agreement, Traxys will act as supplier to SPMP of concentrates
and direct shipping ores as feedstock for the OAR for an initial
term of five years from the first shipment. The cost to SPMP will
be based on the purchase contract cost incurred by Traxys plus an
agreed sourcing fee and transactional expenses. The raw materials
will be delivered to and warehoused by Traxys until required by
SPMP.
Emin Eyi, CEO of SPMP and Deputy Chairman of Tri-Star, said:
"This is an important milestone for SPMP, the global reach and
expertise of Traxys brings considerable value and further
de-risking to our project. Work has already commenced with the
Traxys team in identifying and approaching major suppliers of
antimony and antimony gold concentrates at a time when some 50% of
China's antimony smelters are shuttered pending environmental
concerns."
Enquiries:
Tri-Star Resources plc Tel: +44 (0) 20 3470 0470
Guy Eastaugh, Chief Executive Officer
SP Angel Corporate Finance (Nomad and Broker) Tel: +44 (0) 20
3470 0470
Robert Wooldridge / Jeff Keating
Yellow Jersey PR Limited (Media Relations) Tel: +44 (0) 7825 916
715
Felicity Winkles/ Alistair de Kare-Silver
This information is provided by RNS
The company news service from the London Stock Exchange
END
JVEGGUWGQUPMUBW
(END) Dow Jones Newswires
June 13, 2017 05:16 ET (09:16 GMT)
Tri-star Resources (LSE:TSTR)
Historical Stock Chart
From Apr 2024 to May 2024
Tri-star Resources (LSE:TSTR)
Historical Stock Chart
From May 2023 to May 2024
