Trafigura backs Venturex

GLOBAL commodities trader Trafigura is excited by the potential offered by Venturex Resources’ emerging Sulphur Springs copper-zinc project in Western Australia and will become a cornerstone investor in the proposed A$169 million mine, offering a $100 million debt package and a life-of-mine offtake agreement.

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Sulphur Springs looks like supporting a mining operation.

The funding package comprises a US$70 million copper and zinc concentrate pre-payment facility backed with a long-term offtake agreement for the first 11 years, and 50% of production beyond that.