Equinox Minerals Limited (EQN) is pleased to report that its wholly owned subsidiary Lumwana Mining Company Limited (LMC) has signed a five year concentrate offtake agreement (the “Agreement”) with Konkola Copper Mines Plc (“KCM”) for annual quantities of between 70,000 and 80,000 dry metric tonnes of concentrates from the Lumwana copper mine with an option by mutual agreement for additional annual quantities of Lumwana copper concentrates under the same terms as the Agreement. The copper treatment and refining charges under the Agreement are to be determined annually based on Japanese Smelter Benchmark terms. KCM is majority owned by Vedanta Resources Plc , a London listed metals and mining company.
Commenting, Craig Williams, Equinox President and CEO said: “This new long term offtake agreement with KCM supplements the Company’s existing long term offtake agreement with Chambishi Copper Smelter Limited and together will account for a large majority of Lumwana’s budgeted production. Outside of these agreements, LMC continues to make deliveries of concentrates to international metal traders under short term contracts providing Equinox with concentrate off-take flexibility.”
