Western Areas Signs New Nickel Offtake Deals

Western Areas has been awarded new offtake contracts for the company’s high grade Forrestania nickel operation concentrate product.

Western Areas (ASX:WSA,OTC Pink:WNARF) announce the award of new offtake contracts with BHP Billiton Nickel West Pty Ltd and Jinchuan Co. Ltd for the company’s high grade Forrestania nickel operation concentrate product. The new contracts follow the successful completion of a highly competitive tender process that has resulted in improved commercial terms compared to current offtake agreements.

Highlights are as follows:

  • The Nickel West contract is a new agreement, rather than an extension of the previous arrangement that completes on January 31, 2020. The key terms of the new contract include:
  • Contract period – three years from February 1, 2020 or until completion of the aggregate quantity;
  • Quantity – 10,000 tonnes of nickel contained in concentrate per annum with a 30,000 tonne, aggregate limit;
  • Delivery – bulk logistics to Kambalda, consistent with arrangements already in operation; and
  • Other commercial terms – payable rates are subject to customary confidentiality clauses, all other terms are in line with industry standard for such agreements.
  • Jinchuan contract period – two years from February 1, 2020 or until completion of the aggregate quantity;
  • Quantity – 10,000 tonnes of nickel contained in concentrate per annum with a 20,000 tonne, aggregate limit;
  • Optional extension – the contract can be extended, by mutual agreement, for a further twelve month period at an aggregate nickel quantity to be agreed between the company and Jinchuan;
  • Delivery – CIF into China, utilising the already established logistic process; and
  • Other commercial terms – payable rates are subject to customary confidentiality clauses, all other terms are in line with industry standard for such agreements.

Dan Lougher, managing director, commented:

The company is very pleased with the execution of the new agreements that extend our long and mutually beneficial relationship with Nickel West and reintroduces Jinchuan as an offtake customer following completion of the Tsingshan contract as at January 31, 2020.

It is notable that both of our offtake customers are involved in the downstream operation of nickel smelters. Western Areas firmly believes that the smelting of concentrates is a key process to continue to feed both the emerging electric vehicle battery market, via nickel sulphate, and the traditional stainless steel market.

Click here to read the whole Western Areas (ASX:WSA,OTC Pink:WNARF) press release.

Torian Resources Limited Significant Gold Results from Surface at Mt Stirling

Perth, Australia (ABN Newswire) – Torian Resources Ltd (ASX:TNR) is pleased to advise that recent drilling results continue to extend the Mt Stirling Gold System over ~1.1km of Strike, ~300m at depth, and it remains open in multiple directions.

Highlights:

– The interpreted strike of the Mt Stirling gold system exceeds 1.160km with Mt Stirling Main Zone; Hanging Wall and Viserion lodes all remaining open along strike and down-dip.

Keep reading... Show less

eMetals Limited Updates Shareholders On Exploration – April 12, 2021

eMetals Limited (ASX:EMT) (eMetals or Company) is pleased to update shareholders on exploration activities which have commenced across the Company’s projects.

HIGHLIGHTS

Keep reading... Show less

Discovery Harbour Provides Newcrest’s Planned Program for Fortuity 89, Nevada

Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the “Company” or “Discovery Harbour”) is pleased to announce that Newcrest Resources Inc., a wholly owned subsidiary of Newcrest Mining Limited (“Newcrest”), has provided the details of its planned program for the Fortuity 89 epithermal gold property in Nevada.

The Fortuity 89 property covers very limited outcrop surrounded by a large covered area. The outcrop and interpreted geology are prospective for concealed low sulphidation epithermal gold mineralization below shallow unconsolidated alluvial gravels. Newcrest’s planned activities include a geophysical program encompassing a 675 line kilometre drone airborne magnetic survey, a 250 station ground gravity survey and a 45 line kilometre audio band magnetotellurics (AMT) resistivity survey. It is intended that geologic and alteration sampling and mapping will also be undertaken with a soil geochemical sampling program. The intended outcome of this program is to identify potential drill targets for testing this calendar year.

Keep reading... Show less

Blackdome-Elizabeth Gold Project 2021 Exploration Plan and Update

Tempus Resources Ltd. (“Tempus” or “the Company”) (ASX:TMR)(TSXV:TMRR) is pleased to provide an update on the exploration plan for the upcoming field season at the Blackdome-Elizabeth Gold Project, located in British Columbia, Canada

The 2021 exploration program at Elizabeth and Blackdome is fully permitted and on schedule to commence at the end of Q2, 2021. The program will consist of 7,500 metres of down plunge and along strike diamond drilling at Elizabeth to expand the known gold mineralisation, in parallel with detailed alteration and mapping studies at Blackdome in support of future resource expansion drilling.

Keep reading... Show less

Rio Tinto reaches agreement with Turquoise Hill Resources on financing plan for Oyu Tolgoi

Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the “Funding Plan”) for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia. The Funding Plan addresses the estimated remaining known funding requirement of approximately $2.3 billion 1 , building on and replacing the arrangements established in the Memorandum of Understanding that Rio Tinto and TRQ previously entered into on 9 September, 2020.

Under the HoA, subject to securing approval by OT LLC and any required support from the Government of Mongolia, and subject to timing, availability, and terms and conditions being acceptable to both parties, Rio Tinto and TRQ will:

Keep reading... Show less

Top News

Related News