Red River (ASX:RVR) signs new offtake agreement with Glencore

Red River Resources (RVR) has signed a new offtake agreement with leading global commodity producer and marketer Glencore International AG.

The agreement is for all the copper concentrate produced at Red River’s Thalanga Operations in northern Queensland until June 2023.

Under the terms of the agreement, Glencore will take delivery of copper concentrate at the Thalanga mine gate.

This agreement extents the relationship between the companies, which was established in 2017.

Red River’s Managing Director Mel Palancian is pleased to have signed a new agreement with Glencore.

“We are pleased to have a new agreement with Glencore for copper concentrate produced at Thalanga,” he said.

“We have had great relationship since 2017 and we look forward to continuing this.”

Red River produced more than 14,000 dry metric tonnes of copper concentrate at Thalanga in the 2021 financial year.

On the market this morning, Red River is trading 5.56 per cent up at 19 cents per share.