Nyrstar signs zinc off­take with New Cen­tury

The Australian Mining Review - - NEWS -

GLOBAL met­als business Nyrstar has set­tled a dis­pute over his­toric off­take agree­ments at the Cen­tury zinc mine in QLD.

Nyrstar had com­menced ar­bi­tra­tion pro­ceed­ings against miner New Cen­tury in Fe­bru­ary re­lat­ing to the va­lid­ity of his­tor­i­cal off­take agree­ments at the mine dat­ing back to 2007, how­ever the com­pany said it had sus­pended the ac­tion based on the sign­ing of a new agree­ment.

Nyrstar has agreed to a 5.5 year off­take agree­ment for 600,000 tonnes of zinc con­cen­trate, which in­cludes a vari­able ton­nage al­lo­ca­tion of 250,000t for the first 3.5 years, ris­ing to 350,000t for the fi­nal two years of the agree­ment.

New Cen­tury said it re­mained on track for first zinc pro­duc­tion from the project in Q3 this year.

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