Just days after sending its first gold concentrate shipment to St Petersburg headquartered Polymetal International plc, Wiluna Mining Corporation Limited (ASX: WMC) has suspended further shipments to Russia due to the war in the Ukraine.
The company told the ASX, that in light of the current military action in Ukraine, it will immediately suspend shipments of gold concentrate from its Wiluna Mining Centre to Russia.
“During this period, Wiluna has arrangements in place to sell and ship all its concentrate to alternative destinations,” the company stated.
“We will continue to monitor the situation in Ukraine and any sanctions imposed on the Russian Federation before making further decisions on the destination of its product.
In late February, WMC celebrated the departure of its first shipment of gold in concentrate from the Port of Fremantle bound for offtake partner Polymetal International plc.
Wiluna’s logistics contractor, Qube Bulk delivered the concentrate from Wiluna’s mine via road and rail to their facility at the port of Fremantle where it was loaded onto the ship.
“WMC can further confirm that the first seven shipments are in the process of being locked in with the second shipment of 20 containers loaded and on its way to Fremantle with an estimated early March departure date. “
The third shipment, which will likely be 50 containers, is also confirmed and will be shipped to Singapore-based off-take partner Trafigura. It is due to depart Fremantle in mid-March.
“This will be the first shipment to Trafigura who, like Polymetal International plc, signed an offtake contract for the first three years of production in a contract announced to the ASX in March 2020.
“To date, 2,690 wet tonnes of gold in concentrate, which is the equivalent to ~5,650/oz of gold, has been produced with the ramp-up to full steady-state commercial in progress.”
