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Weatherly International plc, the AIM listed integrated base metals producer with copper mining and smelting operations in Namibia, is pleased to announce it has signed a long-term copper concentrate supply agreement with Louis Dreyfus Commodities. Under the agreement, Weatherly will purchase and process up to 50,000 tonnes per annum of Peruvian copper concentrate at its Tsumeb smelter for an initial three year term. The first consignment of copper concentrate will be delivered during the second quarter 2008.
Commenting on the agreement, Rod Webster, CEO of Weatherly International, said “This deal is similar to our Chelopech agreement with Dundee Precious Metals and further demonstrates delivery of our smelter strategy to target more complex concentrates. Tsumeb is one of the few smelters in the world which can process concentrates that are high in arsenic, which we believe offers Weatherly a strategic and financial advantage.”