New Century in dispute with Nyrstar

BOOM zinc stock New Century Resources has unveiled long-term offtake agreements with commodity traders for production from its planned development, while at the same time revealing it is in dispute with mining and smelting group Nyrstar regarding an offtake agreement signed in 2007.

New Century in dispute with Nyrstar New Century in dispute with Nyrstar New Century in dispute with Nyrstar New Century in dispute with Nyrstar New Century in dispute with Nyrstar

“(New Century) understands these agreements were entered into in 2007 and New Century also understands were terminated some time ago and prior to the company’s acquisition of the mine,” New Century said.

“New Century was not aware of the existence of any such agreements with Nyrstar when it acquired its interest in the Century zinc mine and copies of those agreements were not provided to the company at the time of the acquisition.

“Nyrstar also alleges that MMG Australia [the vendor of the Century project] is the current guarantor to these agreements.”

New Century described the actions by Nyrstar as “opportunistic” and having “no merit”, while noting Nyrstar had been an active “though to date unsuccessful” participant in the in the recent zinc concentrate tender pro...