Equinox, Palabora reach offtake agreement

Equinox Minerals (EQN-T) and South African copper producer Palabora Mining have reached an agreement for Equinox to sell copper concentrate from the Lumwana project in Zambia to Palabora.

The agreement is a letter of intent at this stage, with the two companies expecting to have a definitive sales agreement by year-end. Palabora, which operates a mine and smelter in the eastern part of the Northern province.

Sales to Palabora would not take up all the planned production from Lumwana, and Equinox is in discussions with other smelters in southern Africa.

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