Tungsten, tin: Transamine agrees 100% offtake from Santa Comba

Transamine Trading has conditionally agreed to purchase 100% of tungsten and tin concentrate output from the Santa Comba project in Spain, under development by Galicia Tin & Tungsten (GTT), including managing logistics for tungsten concentrate deliveries to H.C. Starck which has an existing offtake offer in place.

In addition, Transamine Holdings and Investments of Hong Kong has conditionally agreed to subscribe for A$1M of shares in Rafaella Resources, which plans to raise A$2.6M to acquire GTT, with potential to subscribe for a further A$0.5M of shares upon delivery of a positive feasibility study and the grant of project financing.

Roskill view: This latest agreement puts the development of Santa Comba in a strong position, with 100% of proposed output now under offtake. The project had already secured an offtake agreement from leading German tungsten refiner H.C. Starck and an associated offer of 100% project debt financing from the German government, subject to certain conditions being met. Transamine will acquire any additional concentrate not subject to the H.C. Starck offer.

Roskill’s new Tungsten: Outlook to 2028, 13th edition was published in March 2019. The latest quarterly update will be published for subscribers this month. To discuss the tungsten market with Roskill, contact Jessica Roberts: jessica@roskill.com

Roskill’s new report, Tin: Outlook to 2029, 11th edition will be published in September 2019. To discuss the tin market with Roskill, contact Renata Barros: renata@roskill.com.