Red River Resources has completed its first shipment of zinc concentrate from the Thalanga operation in Queensland.
The first shipment of 5500 wet metric tonnes of zinc concentrate was loaded at the Port of Townsville before setting sail for China, the company reported. Thalanga’s zinc and lead concentrates are being sold under an offtake agreement with Trafigura.
Red River has also completed its first delivery of copper concentrate to Glencore under an offtake agreement signed between the companies in June 2017.
The shipments follow the successful commissioning and ramp up of the Thalanga project, with production starting in September 2017.
Thalanga was placed under care and maintenance in 2012 before Red River acquired the operation in 2014 and launched plans to restart the operation.
Zinc was one of the best performed commodities in 2017, with prices doubling from the lows experienced in 2016.
The base metal’s value continues to strengthen in 2018, adding almost 4 per cent so far in January to sit at 3464.5 /tonne at the end of overnight trading.