Gruvaktiebolaget Viscaria has agreed to enter into a Memorandum of Understanding (MoU) with Germany's Aurubis AG to negotiate a long-term copper offtake agreement.
The offtake agreement is expected to cover approximately 50 percent of Viscaria's projected copper output over an eight-year period (2028-2035) with the option to extend.
The planned offtake agreement is expected to cover approximately 50 percent of Viscaria's projected output. If annual production increases during the term, the parties will discuss in good faith an adjustment to the contracted quantity. The agreement is intended to run for eight years (2028-2035) with the option to extend.
Aurubis AG was selected based on its strong commercial terms, financial solidity, and importantly, commitment to sustainability which is aligned with the values of Viscaria.
"Securing a long-term partnership with a global market leader such as Aurubis underscores the strength of our strategy, provides significant support to the debt financing process and ensures flexibility in managing our production volumes. The agreement recognises the high quality of the concentrate to be produced by Viscaria. This is a positive step forward towards creating a new significant European copper producer," said Jörgen Olsson, CEO of Viscaria.
"We are very proud to partner with Viscaria. This partnership exemplifies the importance of European raw material projects. It demonstrates how competitive and responsible our industrial value chains can be. I hope we find the courage to pursue such projects more decisively in the future — to strengthen our supply of strategic metals and reinforce our industrial resilience," said Toralf Haag, CEO of Aurubis.
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