Euro Sun Mining and Glencore Enter into MOU for Concentrate Offtake
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Euro Sun Mining and Glencore Enter into MOU for Concentrate Offtake
October 31, 2024
Toronto, Ontario
Euro Sun Mining Inc., (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to announce that they have
entered a binding Memorandum of Understanding (the “ MOU’) with Glencore International AG
(“Glencore”) by which Euro Sun grants Glencore the right of first refusal (“ROFR”) for an offtake of all
future concentrate to be produced by Euro Sun at its Rovina Valley Project in Romania . In addition,
Glencore has the right to nominate one director to the Euro Sun board of directors.
Mr. Grant Sboros, CEO of Euro Sun Mining, expressed enthusiasm about the recently signed MOU,
emphasizing, "We are delighted to announce this offtake concentrate agreement with one of the world's
leading mining companies. This MOU underscores the growing international interest in our project and
secures future concentrate sales for Euro Sun upon commencement of production. The Rovina Valley
Project continues to represent a significant investment to benefit Romania, which is also critical for raw
material security in Europe.
About Euro Sun Mining Inc.
Euro Sun Mining is a publicly listed development-stage mining company focused on unlocking value
through the responsible development of the Rovina Valley Project, one of Europe’s largest copper gold
projects. The Rovina copper and gold deposit located in west-central Romania, is the second largest in
Europe and holds about 400 million tonnes of confirmed resources containing 7.0 million ounces of gold
and 1.4 billion pounds of copper.
About Glencore International AG
Glencore is one of the world’s largest global diversified natural resource companies and a major
producer and marketer of more than 60 commodities. Founded in the 1970s as a trading company,
Glencore has grown to become a major producer and marketer of commodities with around 150,000
employees and contractors and a strong footprint in over 35 countries in both established and emerging
regions for natural resources.
Further information:
For further information about Euro Sun Mining, or the contents of this press release, please contact
Investor Relations at [email protected]
Caution regarding forward-looking information:
This press release contains "forward- looking information" within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, without limitation, statements regarding the
MOU and Glencore’s ROFR . Forward- looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of activity, performance or
achievements of the Company to be materially different from those expressed or implied by such forward-
looking information, including risks inherent in the mining industry and risks described in the public
disclosure of the Company which is available under the profile of the Company on SEDAR
at www.sedaplus.ca and on the Company's website at www.eurosunmining.com. Although the Company
has attempted to identify important factors that could cause actual results to differ materially from those
contained in forward- looking information, there may be other factors that cause results not to be as
anticipated, estimated o r intended. There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward- looking information. The
Company does not undertake to update any forward- looking information, except in accordance with
applicable securities laws.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.
A photo accompanying this announcement is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/8b353ed8-3cee-4dde-92aa-
9289f3ce7f32