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Jabiru off-take with Newmont for Jaguar project

JABIRU Metals has entered into an off-take agreement with Newmont Golden Grove Operations for Newmont to purchase the copper and zinc production from its Jaguar mine, located 260 kilometres north of Kalgoorlie. Under the agreement, which the two companies expect will deliver cost savings, the Jaguar concentrates will be delivered by road to the Newmont facilities at Geraldton where the two companies’ production will be mixed. The deal also stipulates that Jabiru’s copper and zinc concentrate price, which will be payable 20 days after, will be the average monthly price achieved by Newmont. Based on a feasibility study completed recently, Jabiru anitcipates copper and zinc concentrate production to commence in the second half of 2006. Production capacity at the site is expected to reach 8,500 tonnes of copper, 36,000 tonnes of zinc and 0.8 million ounces of silver in concentrate a year over a six year period. Bemax Reources has executed a project management agreement with WorleyParsons Services for the implementation of its Pooncarie mineral sands project. Under the agreement, WorleyParsons will provide engineering, procurement and construction management services for the Pooncarie project, including undertaking the role of superintendent for contracts let for the deposit. Bemax is planning to commence production at the site towards the end of this year.

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