(Alliance News) - Pembridge Resources PLC on Tuesday said it made its first shipment of copper concentrate from its Minto mine in Canada.
The concentrate was shipped to a facility in Alaska, about 450 kilometres away, and it will then be sent to Japan. Pembridge has an offtake deal with a subsidiary of Japan's Sumitomo Corp.
As part of the agreement, Sumitomo will take all of the copper concentrate produced at the Minto copper mine in Yukon. The deal will remain in place until when 55,000 tonnes of copper concentrate has been received or the end of 2020, whichever is later.
Pembridge Chief Executive Gati Al-Jebouri said: "We look forward to making the first shipment of Concentrate to Japan at the end of March."
Pembridge shares closed 5.9% higher at 13.50 pence each in London on Tuesday.
By Eric Cunha; ericcunha@alliancenews.com
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