Tiger Resources Limited (TGS.TO), which is trading at year lows,
announced it has entered into an export sales agreement to deliver
copper oxide concentrate from its Kipoi Copper Project in Katanga
Province, Democratic Republic of Congo (
) to the Chambishi Copper Smelter in Zambia.
The contract with Chambishi is for a minimum of 30,000t of
copper concentrate at an average grade of 25% copper content from
Tiger's Stage 1 heavy media separation (
The export sales are on favourable commercial terms and will be
facilitated through the existing offtake arrangements in place with
Tiger's major shareholder Trafigura Beheer B.V.
Tiger plans to export up to 60% of the annual concentrate
production from Kipoi, with a higher proportion of the export sales
to occur during the dry season. During the wet season, which starts
in October and finishes in March, domestic sales will be increased
to ensure supply of concentrate to the local market while
small-scale operators stop working due to the rain.
Managing Director Brad Marwood said the off-take deal gave Tiger
added security in terms of marketing its Stage 1 product.