Oman's SPMP inks antimony supply deal with Traxys
MUSCAT, June 19, 2017
Oman-based Strategic & Precious Metals Processing (SPMP) has signed a multi-year agreement with Traxys Europe, a physical commodity trader and merchant in the metals and natural resources sectors based in Luxembourg, for the supply of antimony gold concentrates to its Oman Antimony Roaster, now under construction in the free zone of the Port of Sohar.
SPMP is a minerals processing company in the Sohar free zone engaged in the construction of a modern and environmentally compliant antimony roaster and processing facility with the ability to recover gold.
As per the agreement, SPMP will get access to the global expertise provided by Traxys on minor metal concentrate sourcing and supply chain logistics management.
Commenting on the deal, Emin Eyi, the chief executive of SPMP, said this was an important milestone for the company; the global reach and expertise of Traxys brings considerable value and further derisking to its project.
"Work has already commenced with the Traxys team in identifying and approaching major suppliers of antimony and antimony gold concentrates at a time when some 50 per cent of China’s antimony smelters are shuttered pending environmental concerns," he noted.
Antimony is a critical metal used in a wide variety of industrial, electronic and plastics sectors. Supply has been dominated by China for a number of decades. Major economies of Europe, US and Japan are almost entirely import dependent on China for this critical and scarce element.
Eyi said SPMP's vision is to provide a clean, sustainable and environmentally compliant source of antimony to global consumers.
Alan Docter, the chairman of Traxys, said It was delighted to partner with SPMP and looked forward to contributing its deep industry experience to this strategically placed and timed project.
"The project is planned to produce over 20,000 tonnes of antimony products per annum and recover over 50,000 ounces of associated gold," he stated.
The plant is one of the first in decades to be built to international standards for emissions, is highly automated and benefits from the natural advantages of its location on Oman, namely proximity to a major port and trade routes to Asia, low energy costs, good local power and infrastructure, modern waste handling facilities and a zero tax zero duty environment.
Traxys' logistics, marketing, distribution, supply chain management and trading activities are conducted by over 300 employees, in over 20 offices worldwide, and its annual turnover is in excess of $6 billion, stated Docter.
"Our focus is primarily on the marketing and sourcing of base metals and concentrates, minor and alloying metals, industrial minerals and chemicals, and materials for steel mills," he added.-TradeArabia News Service
