Alara completes commissioning, commences copper concentrate production

Alara Resources (ASX:AUQ) has completed commissioning and commencement of concentrate production at its 1 MTPA1 Al Wash-hi – Majaza copper-gold mine and copper concentrate plant in Oman.

The company’s share price surged 54.054% to $0.057 as of 11.40am AWST giving it a $26.56 million market capitalisation.

The Al Wash-hi – Majaza Mine is owned and operated by Alara’s 51% joint venture company, Al Hadeetha Resources LLC (AHRL). Mine production is poised to ramp up to full capacity over the next 2 to 3 months.

Alara says the sale of the first shipment – about 1,000 dry metric tons of copper concentrate – to Trafigura is expected in April 2024.

Managing Director Atmavireshwar Sthapak says the start of concentrate production is a momentous occasion for Alara and its shareholders.

“This represents the culmination of 12 years’ hard work, from project site identification through resource definition, detailed engineering studies, debt and equity financing and the construction phase just completed.

This great achievement would not have been possible without the enormous efforts of Alara’s joint venture partners in AHRL – Omani conglomerates Al Naba Services and Al Tasnim Enterprises, for which we are extremely grateful.

Their local experience, networks and contracting capabilities made an invaluable contribution to bringing this mine to production.”

The MD says Alara is on track to become a mid-tier mining production company, as it shifts focus to developing existing exploration projects and new acquisitions.

Before introducing copper ore to the processing plant all major equipment was commissioned through a series of tests, including a trial run with basaltic rock. All systems were found to be functioning correctly, with only a technical issue with the tailings filter press still being resolved. This issue is not impeding production at planned levels, however, Alara adds.

Alara Resources is an Australian-based precious and base metals explorer and developer currently focused on operating the Al Wash-hi Majaza Copper-Gold project in Oman.

The company is also continuing exploration activities at its other Oman projects, the Block 7 exploration license under the Daris JV and the Mullaq and Al Ajal exploration licenses under the Al Hadeetha JV.

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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.