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BRIEF-Russia's Polymetal enters offtake agreement with Australia's BLK

Published 31/03/2020, 05:33 pm
© Reuters.

March 31 (Reuters) - Russian precious metals mining group Polymetal POLYP.L says:

* Has entered a refractory gold concentrate offtake agreement and strategic alliance with Australian gold mining company Blackham Resources BLK.AX ;

* Polymetal will purchase the greater of more than 70% of refractory sulphide gold concentrate, or 122,500 tonnes of concentrate containing at least 195,000 ounces of gold, from BLK's Stage 1 expansion project at the Wiluna gold operation during its first three years of operation;

* Upon expiration of the initial three-year period of Stage 1 and during Stage 2 of the Wiluna expansion project, Polymetal will obtain exclusive offtake rights for up to 100% of BLK's concentrate production.

Further company coverage: POLYP.L

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