Alara Resources (AUQ) has made significant progress in its Al Wash-hi-Majaza copper and gold joint venture project, with the on-site one million tonne per year copper concentrator plant project engineering now 95% complete. Civil works for the project are also at 88% completion. An offtake agreement for the copper concentrate has already been secured. Alara holds a 51% stake in the project, with Oman-based mining company Al Tasnim holding 19%, and Al Hadeetha Resources LLC holding 30%.
In addition to its progress at Al Wash-hi-Majaza, Alara is participating in an exploration auction round by the Omani Ministry of Energy and Minerals (MEM) in the hopes of acquiring four blocks prospective for base metal copper. The company is also looking at off-landholding auctions in Saudi Arabia, where it intends to enter the expanding mining sector. Alara’s Saudi subsidiary is fully operational and headquartered in Riyadh.
At Al Wash-hi-Majaza, infrastructure installation is underway with foundations laid and power installation on-site and ready for operation. Mine pre-stripping is progressing well, and copper ore is currently oxidizing. The company’s JV continues to prepare for two more drilling projects on-site, in addition to the three already completed. Access roads have been constructed, crushers and refining mills have been installed, and the company has achieved one million injury-free labor hours.
Alara also has two other copper-gold projects, Daris and Awtad, located nearby Al Wash-hi-Majaza, which are also progressing. In Daris, Alara holds a 50% stake alongside Al Tasman Trading Establishment LLC. In Awtad, Alara holds 10% but has an option to earn up to over 70%, with existing local shareholders holding the balance.
The company expects to complete the processing plant at Al Wash-hi-Majaza and commence plant commissioning by the end of the September quarter, ensuring the facility is ready for production.
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