Contact Information: Website: www.TaraMinerals.com Francis Biscan Jr. Phone: (630) 462-2079
Tara Minerals Reaches Agreement to Sell Concentrate to Glencore
| Source: Tara Minerals Corp.
CHICAGO, IL--(Marketwire - December 7, 2009) - Tara Minerals Corp. (OTCBB : TARM ) (BERLIN : 6T3 ),
a subsidiary of Tara Gold Resources Corp. (PINKSHEETS : TRGD ) (FRANKFURT : T8N ), is pleased to announce that the Company has reached an agreement to
sell all of its zinc and lead Don Roman concentrate to Metagri S.A. de
C.V., a local Mexican subsidiary of Glencore International AG. The
agreement includes payment of 85% of the final zinc content and 95% of the
final lead content, minus applicable quality, shipping and processing costs
and also payment for gold and silver content within the concentrate. The
agreement is for a five year term with an extension clause.
Metagri / Glencore has also agreed to provide technical assistance from its
worldwide mining and metallurgical operations towards increasing and
optimizing production levels at the Don Roman mine and mill. The Glencore
technical team has already visited the plant on a couple of occasions and
has proven to be a valuable resource. The technical support will also be
available to assist with other business development opportunities between
Tara and Metagri/ Glencore.
Mr. Francis Biscan Jr., President of Tara Minerals Corp., stated, "Glencore
has international reach and a wealth of technical knowledge. While forming
the relationship, they have consistently expressed an attitude of
partnership aimed at developing a successful and profitable project for our
company and a consistent quality product for them. We look forward to
working with Metagri / Glencore on an on-going basis. We have been
stockpiling processed concentrate and shipments to Metagri will begin
immediately."
About Tara Minerals Corp.
Tara Minerals is focused on generating revenue from the Don Roman and
Lourdes gold, lead, zinc, and silver mine and mill located in Choix,
Mexico. Tara Minerals Corp. is a US-based growth-orientated resource
company engaged in the search, acquisition, exploration and development of
high-quality non-precious & precious metals and minerals projects with
potential for economic commercial value.
About Glencore International AG
The Glencore Group of Companies ("Glencore") is one of the world's largest
suppliers of commodities and raw materials to industrial consumers.
Glencore, founded in 1974, is a privately held Group owned by its
management and employees. Headquartered in Baar, Switzerland, Glencore
employs over 2,000 people in its global marketing operations in some 50
offices in over 40 countries. In its industrial operations, Glencore
employs over 50,000 people at 16 plants in 13 countries.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained herein which are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements, including, but not limited to, certain delays
beyond the company's control with respect to market acceptance of new
technologies or products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission.