13 May, 2010 - Africa-focused minerals developer Gulf Resources has signed a ten-year offtake agreement with UK-based vermiculite distributor Dupre Minerals.
Under the contract, Gulf has agreed to supply Dupre with all commercial sizes of vermiculite products from its East African vermiculite project (EAV), in Uganda.
During the first three years, a minimum quantity supply has been agreed upon. Gulf would supply 8,000 t during its first year, 10,000 t during the second year, and 15,000 t during the third year.
"This deal with Dupre ensures that we now have in place takeoff and distribution agreements covering the entire expected output from EAV moving forward," said Gulf chairman Scott Reid.
Vermiculite from the EAV project would be supplied into the EU, Baltic States, Russia, Turkey and Israel.
The EAV is situated in eastern Uganda, and contains a Joint Ore Reserve Committee-compliant inferred resource of 54.9-million tons at 26.7% vermiculite.
The project was expected to start commercial production this month, and it was anticipated that it would reach a steady-state production of 10,000 t, building up to 16,000 t a year.
Under the contract, Gulf has agreed to supply Dupre with all commercial sizes of vermiculite products from its East African vermiculite project (EAV), in Uganda.
During the first three years, a minimum quantity supply has been agreed upon. Gulf would supply 8,000 t during its first year, 10,000 t during the second year, and 15,000 t during the third year.
"This deal with Dupre ensures that we now have in place takeoff and distribution agreements covering the entire expected output from EAV moving forward," said Gulf chairman Scott Reid.
Vermiculite from the EAV project would be supplied into the EU, Baltic States, Russia, Turkey and Israel.
The EAV is situated in eastern Uganda, and contains a Joint Ore Reserve Committee-compliant inferred resource of 54.9-million tons at 26.7% vermiculite.
The project was expected to start commercial production this month, and it was anticipated that it would reach a steady-state production of 10,000 t, building up to 16,000 t a year.
