Almasane Alkobra Mining Company (AMAK) announcement of the previously announced developments regarding the multiyear offtake agreement
| Element List | Explanation |
|---|---|
| Introduction | The company announces to its valued shareholders about the approval of the multiyear agreement extension with (Glencore International AG) to sell 100% of the zinc and copper concentrates produced from AMAK’s mining operations in Saudi Arabia. Products will continue to be delivered under this agreement for an additional 24 months, until the end of December 2026, the agreement is subject to extension for another period by mutual agreement.
Note that Glencore will continue to provide technical services related to the company’s mining operations to achieve flexibility and the best value for the products. |
| Previous Announcement | With reference to the announcement of Almasane Alkobra Mining Company (AMAK) dated 12/Jan/2023 AD regarding the multiyear Offtake agreement for a 24 months period subjected to renewable, to offtake all Copper and Zinc concentrates produced from their Saudi Arabia mining operations. As part of the agreement, Glencore will provide mine technical services to "AMAK". |
| Date of Previous Announcement on Saudi Exchange’s Website | 2023-01-12 Corresponding to 1444-06-19 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | N/A |
| Reasons For The Delay on The Date of The Event Previously Announced | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Delay consequences on the Company’s financial results | N/A |
| Additional Information | N/A |
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