Company Overview

Abra Mining Pty Limited (AMPL or Abra JV) is an Australian exploration and mining company which is 60% owned by Galena Mining Limited (Galena) (ASX: G1A) and 40% by Toho Zinc Co., Ltd. (Toho) (TSE: 5707) through its wholly owned subsidiary, CBH Western Australia Pty Ltd. AMPL owns 100% of the Abra Base Metals Mine (Abra or the Project), a globally significant lead-silver project located in the Gascoyne region of Western Australia.

Abra Corporate Structure

Galena is an ASX listed company which acquired the Abra project in 2017 at the same time as listing on the ASX. In October 2019, Galena announced a 10-year offtake agreement with IXM for Galena’s 60% portion of Abra’s lead concentrate production.

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Toho is a Japanese listed company which was originally established in the 1930’s from the Japan Zinc Smelting Co. Toho owns and operates the Chigirishima Lead Smelter and Refinery located in Hiroshima Prefecture in Japan. Toho is the leading producer of lead in Japan producing 100,000 tonnes of refined lead per annum. Toho imports up to 160,000 tonnes of lead concentrate to Chigirishima for smelting and refining each year. Toho will purchase 40% of Abra’s lead concentrate production for an initial period of 10-years from the commencement of concentrate production.

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Picture of the Chigirishima Smelter and refinery, Hiroshima Prefecture (Courtesy of Toho Zinc).