Titan Mining Corp. on Feb. 26 said that it concluded an off-take agreement to supply 100% of the zinc concentrate from its Empire State project in New York to Glencore Plc.
The long-term contract will start on the initial production of concentrate. The company anticipates to achieve commercial output at Empire State early in the second quarter.
"The agreement with Glencore ensures that transportation logistics are very simple and low risk. Equally important is that payments will be more frequent than market standards, thereby minimizing working capital requirements at the mine site," COO Keith Boyle said.