trending Market Intelligence /marketintelligence/en/news-insights/trending/9mlcvxzreppvdcq88zv17w2 content esgSubNav
In This List

New Century secures zinc concentrate off-take from Century mine

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


New Century secures zinc concentrate off-take from Century mine

New Century Resources Ltd. has entered into off-take deals for zinc concentrate produced at its Century mine in Queensland, Australia, with Mercuria Energy Trading SA and Transamine Trading SA.

The company's concentrate tender process was for up to 1.5 million tonnes of zinc concentrate from the mine, which covers about 3.5 years of output. The off-take deals with Mercuria and Transamine are for about half of the tender, the company said Feb. 7.

New Century noted that it received interest for its zinc concentrate from 11 parties in total as part of the tender and is working toward executing further off-take agreements. Production from the Century mine is expected to start in the third quarter.

Meanwhile, New Century received an arbitration request over a claim by Nyrstar NV subsidiary Nyrstar Sales & Marketing AG for the purchase of zinc concentrate from the Century mine under a zinc supply agreement entered into in 2007.

However, the company believes that any historical agreements with Nyrstar were terminated before the company acquired the mine in 2017, after MMG Ltd. sold it to privately held Century Bull Pty. Ltd. "New Century believes that the opportunistic claim by Nyrstar has no merit" and will vigorously defend the claim, the company said.