Denarius Metals Corp. (Cboe CA: DMET | OTCQX: DNRSF) has agreed to commercial terms with Boliden Commercial AB, a subsidiary of Boliden AB, for the sale at market prices of 100% of the nickel-copper concentrates to be produced at its Aguablanca Project in Extremadura, Spain.
Serafino Iacono, executive chairman and CEO of Denarius Metals, commented, “We are very pleased to be partnered with a world-class metals company such as Boliden. Our shared vision of producing low-carbon metals within the European Union to support climate transition and modern society was a key factor in our decision to sign a long-term offtake agreement with Boliden.”
The initial term of the agreement covers the period through mid-2031 and is renewable annually thereafter. The concentrates will be shipped from Aguablanca through the Huelva Port to Boliden’s state-of-the-art nickel flash smelting facilities located in Harjavalta, Finland, the only nickel sulphide smelter in the European Union. The flash smelting technology was invented and implemented first in Harjavalta and is included on the EU Best Available Technology list. The Harjavalta smelter has some of the lowest carbon and sulphur dioxide emissions of any nickel smelter globally.
“The commercial terms align favorably with our pre-feasibility study published earlier this year for the re-start of our Aguablanca Project, allowing us to generate revenues from the nickel, copper, cobalt, platinum, palladium, gold, and silver contained in the Aguablanca deposit. With this agreement now in place, we have established offtake arrangements for our two projects coming into production within the next six to 12 months, Zancudo in Colombia and Aguablanca in Spain.” Added Serafino.
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