Vast Resources has announced a new exclusive offtake agreement with the Trafigura Group for the copper concentrate produced at its wholly-owned Baita Plai Polymetallic Mine in Romania. This new agreement, effective until June 2025, enhances Vast’s ongoing partnership with Trafigura, a global leader in commodity trading and logistics, building on their initial collaboration for the Takob Mine in Tajikistan established in October 2022.
Replacing the current copper concentrate offtake agreement, the new arrangement aligns with market practices in pricing, incorporating adjustments based on the grade of delivered material. The agreement includes a slight discount to the LME cash settlement quotation for copper, silver, and gold, ensuring Vast remains competitive.
Copper concentrate production at Baita Plai has seen a 24% increase from Q4 2022 to Q4 2023. Vast is also in the process of accelerating the development of the underground decline access ramp at the mine. This development is expected to significantly boost productivity by reducing underground haulage times and providing quicker access to high-grade ore, which should improve the concentrate’s overall grade and reduce grade variability.
Vast Resources is also in ongoing discussions regarding the extension of loans to A&T Investments SARL and Mercuria Energy Trading SA, with further updates to be provided upon conclusion. 
