Great Divide Mining (GDM) has signed a 12-month binding offtake agreement with MRI Trading for purchasing gold concentrate from the Challenger Gold Mine in Adelong, New South Wales.
The arrangement covers all gold concentrate production from the site from 1 April 2026 until 30 June 2027.
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Under the terms of the agreement, MRI Trading, which has been involved in international commodity trading for over two decades, will buy 100% of the gold concentrate produced from Challenger during the contract period.
Production volumes are estimated to be between 26 and 52 wet metric tonnes each week on an annualised basis as mining operations continue to scale up.
GDM will receive payments for a significant proportion of the gold contained in each shipment, with pricing linked to the London Bullion Market Association’s prevailing benchmark rates.
The company will also receive a provisional payment within three business days of shipping documentation being finalised, in line with industry practices.
Shipments will be sent in approximately 25t containers to international customers via Port Klang, Malaysia.
Gold concentrate from the Challenger site will be transported overseas using container shipments through the Port of Melbourne.
The Challenger Processing Plant, part of the Challenger Gold Mine, recently achieved its first production of gold concentrate and has started commercial shipments as part of a phased ramp-up to continuous operation.
GDM stated it is continuing to implement operational improvements at Challenger, as well as process historic mineralised mine waste at the surface.
GDM CEO Justin Haines said: “Securing a long-term international offtake agreement represents an important step in transitioning Challenger from recommissioning into sustained commercial operation.
“The agreement establishes a clear export pathway for Challenger gold concentrate and supports the company’s staged operational ramp-up.”
