AMAK signs new multiyear offtake agreement with Glencore International

Al Masane Al Kobra Mining Company “AMAK” announced it has executed a new multiyear Offtake Contract with Glencore International AG for 100% of the Zinc and Copper concentrates produced from their Saudi Arabian mining operations. As part of the agreement Glencore is to provide mine technical services to “AMAK”.
Delivery of the Copper and Zinc concentrates under the new offtake agreement will commence immediately and continue for a 24 month period, thereafter shall be subject to mutual agreement.
While the offtake agreement remain commercial in confidence the terms are market related and provide “AMAK” with product flexibility to facilitate maximum value from the product streams.