R3D Resources, a significant copper-gold explorer and developer in the Chillagoe Region in Queensland, has executed a binding Heads of Agreement with Kanins International to supply it with copper sulphate from the company’s Tartana plant.
Under the exclusive deal, Kanins has cormmitted to purchase 100 per cent of the technical grade copper sulphate produced by R3D over an initial three-year period.
R3D managing director Stephen Bartrop said the agreement underpinned the Tartana plant restart activities and represented a major milestone in bringing this project into production.
“We are pleased to be working closely with a recognised world leader in this market, who will provide not only a guaranteed offtake of the copper sulphate production at an agreed price, but will also support the production activities with their deep technical knowledge and operational understanding of the rnarket,” he said.
Kanins managing director Simone Watt said given the current market and supply chain conditions, high quality local supply of copper sulphate is in strong dernand, providing confidence in agreeing to a 100 per cent offtake from R3D.
Kanins is the market leader in supply of copper sulphate for the industrial, feed, fertiliser and algaecide industries. Historically, Kanins was the exclusive distributor and agent for Solomon’s Copper Australia, the previous operator of the plant prior to R3D subsidiary Tartana’s acquisition of the project.