ASX-listed Victory Mines Limited has announced an offer from an un-named respected European minerals trading company to purchase tin concentrates sourced from co-operatives operating around the old Siglo XX mine in the Potosi region of Bolivia. Victory (formerly South American Tin) plans to establish a series of processing plants in the area to upgrade concentrates supplied by local partners and has ambitions of producing as much as 3,000 tpy of concentrate.
The initial offer made to Victory’s local subsidiary CM Gondwanaland was for an initial test period supply of three containers (75 tonnes), followed by an ongoing commitment to take 100% of Gondwanaland’s production at a minimum of 100 tpm.
Victory’s Managing Director John Kelly commented: “This is a game-changing opportunity for Victory as it means we can start generating revenue from the sourcing of concentrates from the Siglo XX project almost immediately. We have been in dialogue with the minerals trading company for a number of months to arrive at a mutually beneficial arrangement. Our first priority is to commence the three-month trial period and this phase of the project is now Victory’s sole focus and priority.”
