Blackthorn Resources is continuing tonnegotiate with Switzerland-based tradingngroup Glencore International regarding thenestablishment of a JV for the Perkoa zincnproject in Burkina Faso, the Australianncompany said Wednesday. “Significantnprogress has been made, including agreementnbeing reached regarding the specificnterms for an offtake agreement for allnavailable concentrates,” Blackthorn said inna statement. Construction at the Perkoanzinc mine began in March 2007 but wasnsuspended in July 2008, and the projectnplaced on a care and maintenance program,nin response to a decline in globalnmetal prices. Perkoa has an ore reserve ofn6.3 million mt at a mine head grade ofn13.9% zinc (at a 9% Zn cut-off), equating ton873,400 mt of contained zinc metal. Thenmine is expected to produce 170,000 drynmt/year of concentrate grading 53% zinc.nBlackthorn announced in January it hadnsigned a heads of agreement withnGlencore for a JV to develop the project.
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