Trafigura is one of the largest physical commodities trading groups in the world, with significant experience in the supply and transport of concentrates.

The company owns and operates concentrate storage facilities in China and worldwide that support the company’s trading activities.

Production of concentrate from the Nova mine is exp ected to commence in late 2016. Sirius intends to export this concentrate through the port of Esperance subject to receiving community endorsement and government approval to use state – of – the – art rotating containers. The port of Geraldton, which already utilises th is loading method, is another option .

The commercial terms of the offtake agreement are confidential, but reflect the anticipated exceptionally high quality of the Nova copper sulphide concentrate, which has very low levels of deleterious elements and is expected to average 29% copper . These characteristics make the product highly desirable to smelters and trad ing firms.

Sirius managing director Mark Bennett said: " We are pleased to have secured an offtake agreement with Trafigura for our planned copper production for the first three years of Nova’s initial ten year mine life , and expect to have a productive and mutually beneficial relationship with Trafigura during this period."

Next steps

The Company is now at a very advanced stage of negotiation with an other party for the remaining half of the expected nickel concentrate production for the first three years from Nova and expects to finalise this contract by mid -2015.