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Al Masane Al Kobra Mining Company "AMAK" signs new multiyear offtake agreement
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AMAK
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1444/06/19 12/01/2023 08:03:11
| Element List | Explanation |
|---|---|
| Announcement Detail | Al Masane Al Kobra Mining Company "AMAK" is pleased to announce that it has executed a new multiyear Offtake Contract with Glencore International AG for 100% of the Zinc and Copper concentrates produced from their Saudi Arabian mining operations. As part of the agreement Glencore is to provide mine technical services to "AMAK". Delivery of the Copper and Zinc concentrates under the new offtake agreement will commence immediately and continue for a 24 month period, thereafter shall be subject to mutual agreement. While the offtake agreement remain commercial in confidence the terms are market related and provide "AMAK" with product flexibility to facilitate maximum value from the product streams. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 60.5
Net Change 0.6 (+1.0%)
Value Traded (Sar) 36,325,838.2
Volume Traded 604,587
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