True North Copper is starting copper sulphate production at its Cloncurry project in Queensland. The initial production capacity is estimated to be 12,000 tons per year of copper sulphate crystal. True North Copper has already secured an offtake agreement with Kanins International, an Australian company, for the entire production of copper sulphate.
True North’s Managing Director, Marty Costello, expressed delight in the successful commencement of copper sulphate production, attributing the achievement to the dedication and hard work of the entire team. He emphasized that becoming one of the few active copper sulphate producers in the country is a source of pride for the company.
The offtake agreement with Kanins International is considered a crucial step in ensuring stable revenue generation for True North Copper. The agreement guarantees a premium price above the rates on the London Metal Exchange for their high-quality copper sulphate. This predictable revenue stream provides the company with confidence and stability in its operations.
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