Copper sulphate production begins at Cloncurry

Copper sulphate production has begun at True North Copper’s (ASX:TNC) Cloncurry project in Queensland.

The refurbished solvent extraction and copper sulphate crystallisation plant are both now fully operational, and True North has signed an exclusive offtake agreement with Kanin International for its copper sulphate production.

An Australian owned business, Kanins International supplies copper sulphate for the mining, mineral processing, animal feed, fertiliser and pesticide industries across domestic and international markets.

The agreement between the companies will see Kanin acquire all the copper sulphate produced at Cloncurry for the life of copper sulphate production.

In return, Kanins will provide technical services to True North as required, to help True North produce products which will achieve the highest return.

True North managing director Marty Costello said the company is excited to begin first copper sulphate production.

“We’re thrilled to announce the successful commencement of our first copper sulphate production,” he said.

“We have worked hard to achieve copper sulphate production in a short period of time and we are proud to be one of the few active copper sulphate producers in the country.

“We believe our offtake agreement with Kanins International provides confidence in True North Copper’s revenue generation. This agreement ensures a premium above the London Metal Exchange price for our high-quality copper sulphate, providing a stable and predictable revenue stream.”

Initial production capacity is estimated at 12,000t of copper sulphate crystal per year.