13 Jun 2017 10:16
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No. 596/2014 until the release of this announcement
13 June 2017
Tri-Star Resources plc
("Tri-Star" or the "Company")
Joint Venture Antimony Concentrate Supply Agreement
Tri-Star is pleased to announce that Strategic & Precious Metals Processing LLC ("SPMP") has signed a multi-year agreement with Traxys Europe SA ("Traxys") to supply antimony and antimony gold concentrates to SPMP's Oman Antimony Roaster ("OAR"), now under construction in the Port of Sohar Free Zone, in the Sultanate of Oman. The Company has a 40% equity interest in SPMP, a company incorporated in Oman.
SPMP reports that this strategic alliance provides SPMP access to the global expertise provided by Traxys on minor metal concentrate sourcing and supply chain logistics management. Under the agreement, Traxys will act as supplier to SPMP of concentrates and direct shipping ores as feedstock for the OAR for an initial term of five years from the first shipment. The cost to SPMP will be based on the purchase contract cost incurred by Traxys plus an agreed sourcing fee and transactional expenses. The raw materials will be delivered to and warehoused by Traxys until required by SPMP.
Emin Eyi, CEO of SPMP and Deputy Chairman of Tri-Star, said: "This is an important milestone for SPMP, the global reach and expertise of Traxys brings considerable value and further de-risking to our project. Work has already commenced with the Traxys team in identifying and approaching major suppliers of antimony and antimony gold concentrates at a time when some 50% of China's antimony smelters are shuttered pending environmental concerns."
Enquiries:
Tri-Star Resources plc Tel: +44 (0) 20 3470 0470
Guy Eastaugh, Chief Executive Officer
SP Angel Corporate Finance (Nomad and Broker) Tel: +44 (0) 20 3470 0470
Robert Wooldridge / Jeff Keating
Yellow Jersey PR Limited (Media Relations) Tel: +44 (0) 7825 916 715
Felicity Winkles/ Alistair de Kare-Silver