Metallum Resources talks up global commodity traders in preparing to restart Winston Lake mine
A mine developer looking to restart a shuttered high-grade zinc mine near the north shore of Lake Superior reports it’s in talks with “multiple global metal traders” for off-take agreements for the much-in-demand metal.
Vancouver’s Metallum Resources calls its Superior Lake Zinc Project, near the town of Schreiber, one of the highest grade zinc development projects in North America, if not the world. The company is in the mine permitting stage on the path toward reopening of the former Winston Lake zinc mine and fast-track it to production as early as next year.
In a May 31 news release, Metallum categorized as “preliminary” discussions with number of parties indicating a willingness to provide upfront funding in advance of any concentrate shipments.
An off-take agreement is an arrangement between a mining company and a buyer. They’re generally negotiated after a mine feasibility study is done and before mine construction. The arrangement can be used by developers as a tool for project financing.
For the rest of this article: https://www.northernontariobusiness.com/mining-the-northwest/mining-the-northwest-developer-looks-to-fast-track-former-schreiber-area-zinc-mine-into-production-by-2023-5440936