Mercuria Energy Trading announced it has signed a landmark offtake agreement with Geotechmin OOD (Geotechmin) for 100% of its Ellatzite copper concentrate production in 2026, estimated to be 195,000 wet metric tons.
As part of the deal, both parties agreed to enter into a strategic financing partnership for a US$250 million prepayment facility supporting Geotechmin’s long-term growth plans.
“We are delighted to enter into this strategic partnership with Geotechmin, which aligns with Mercuria’s strategy to expand our metals business in Europe and to contribute to sustainable resource development on the continent”, said Kostas Bintas, Global Head of Metals and Minerals at Mercuria.
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Geotechmin Deputy Manager Ivan Vutov commented on the agreement:
“This new partnership with Mercuria is a strong recognition of Geotechmin’s operating standards, its commitment to deliver on time and on specification premium clean copper concentrate, and underscores our vision to partner with a financially sound, internationally recognized commodities group with deep metals market understanding and a strong record of integrity and compliance. The agreement will allow Geotechmin transparent and competitive access to international markets”.
SOURCE: PRNewswire