Mawarid exports maiden bulk shipment of copper concentrates
BUSINESS REPORTER
MUSCAT, FEB 12
Mawarid Mining LLC, the mining arm of the MB Group of Companies, has announced the successful export of its first bulk shipment of copper concentrates produced at the Lasail Copper Concentrator using ore from the Al Ghuzayn Copper Mine. Around 7,500 wmt (wet metric tonnes) of copper concentrates, with a concentration of +18.5 per cent copper, were shipped from Sohar Port to China for further treatment and refining, under an offtake agreement with Trafigura PTE Limited.
Mawarid continues the ramp up of the Al Ghuzayn Mine, supported by the mining contractor Gulf Rock Engineering LLC. To date, Mawarid has mined over 222,000 tonnes of ore and completed over 5,000 meters of underground primary and secondary development.
Mawarid's Managing Director Tariq al Barwani said: 'Mawarid has been able to develop the Ghuzayn Mine and refurbish the Lasail concentrator with the support of our equity and debt partners, in collaboration with the various contractors working at each of the operations. We are particularly pleased with 1.0 million LTI-free work hours being achieved, showcasing our commitment to safe working processes and standards. The progress of the mine ramp up and achieving the 1st bulk shipment of 7,500 wmt, which is in accordance with the feasibility study, shows an excellent effort by the Mawarid team, our funding and contractual partners. Mawarid is not only focused on operational excellence but is also committed to contributing to the nation's socio-economic development and long-term growth in line with Oman's vision 2040 which includes a building a productive and diversified economy.'
Mawarid Mining CEO Chris Jordinson stated: 'We are proud to continue producing the minerals necessary for the world's growth, especially considering the continued demand for copper in green energy. Thank you to all our stakeholders, partners, and supporters. Funding for the development of the Ghuzayn Project was in the form of equity from Mohammed Al Barwani LLC, debt facility from Oman Development Ban, in addition to a debt facility from Dhofar Islamic Bank LLC with pre-shipment and working capital facilities from Trafigura PTE Limited. Thank you to our lenders' trust in the Mawarid team to deliver the Project in accordance with the feasibility study parameters.'
Mawarid's Lasail Concentrator is processing the Ghuzayn ore at a rate of 100 wmt per hour and producing saleable concentrate. The feed grade of the ore processed at the Lasail Concentrator is averaging 1.85% Cu, resulting in a concentrate grade of +19.0% Cu in concentrate, with a moisture level of 9.02%.
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