Kimberley Metals Limited (ASX:KBL) Signed Sales Agreement with Yunnan Copper (SHE:000878)
Sydney, July 28, 2011 AEST (ABN Newswire) - Kimberley Metals Limited (
ASX:KBL) is pleased to announce that a Sales Agreement has been reached with Yunnan Copper Company Limited (YC) (SHE:000878) to sell to YC copper concentrate from the Company's Mineral Hill Mine.
The Sales Agreement has been struck on favourable terms covering four to five shipments of 4,000 to 6,000 metric tonnes of copper concentrate to Yunnan Copper's smelter between August and December 2011.
YC, based in Kunming, Yunnan, is the third largest copper producer in China. YC is also the largest silver producer and ninth largest gold producer in China.
The Sales Agreement reinforces Kimberley Metal's elevation to production status with forecast cash flows from the Parkers Hill underground mining operations commencing in late August 2011.
About KBL Mining Ltd
KBL Mining Ltd (ASX:KBL) is an Australian resource Company listed on the ASX with a focus on producing precious and base metals. KBL's main assets include the Mineral Hill copper-gold-silver-lead-zinc mine near Condobolin in New South Wales and Sorby Hills lead-silver-zinc project in Western Australia. The Company has been operating the refurbished processing plant at Mineral Hill since October 2011 to produce copper-gold concentrates and in 2013 commenced producing a separate lead-silver concentrate. Sorby Hills (KBL holds 75% with Henan Yuguang Gold & Lead Co. Ltd (HYG&L) holding 25%) is a large near surface undeveloped silver-lead deposit close to port infrastructure and a short distance from Asian markets.
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