Thalanga celebrates first concentrate delivery
The first two loads of zinc concentrate, about 150 tonnes, left site on October 10 for delivery to a storage facility in Townsville, following the start of concentrate production on September 8.
The concentrate will be sold to Trafigura under the terms of Red River’s existing concentrate offtake agreement.
Red River said it would shortly make its first lead concentrate delivery from Thalanga also to Trafigura.
“It is very pleasing to have achieved our first deliveries of zinc concentrate from Thalanga after commencing production at the project last month, ahead of schedule and under budget," managing director Mel Palancian said.
"I’m really proud of what our team has achieved in a safe and professional manner and look forward to growing the business.”
“Red River has no debt and a cash balance of $15.6 million at the end of September, so our ability to generate an income from concentrate will help fund exploration across our portfolio as we aim to find the next generation of deposits in the Mt Windsor Belt and further increase our resource inventory.”
Northern Stevedoring Services has been awarded a three-year contract for port logistics and stevedoring services relating to the export of mineral concentrates from Thalanga.