Mercuria Secures 2026 Copper Concentrate Offtake from Bulgaria’s Ellatzite Mine
Mercuria Signs $250 Million Offtake Deal for Ellatzite Copper Concentrate Production in 2026
Global commodities trading group Mercuria announced on Tuesday that it has signed an offtake agreement with Bulgarian mining company Geotechmin covering 100 percent of the copper concentrate production from the Ellatzite mine for the year 2026.
The agreement includes a prepayment facility of $250 million and reflects Mercuria’s broader strategy to expand its metals trading business in Europe.
Kostas Bintas, Mercuria’s Global Head of Metals, said in a statement that the deal is consistent with the company’s efforts to capitalize on growing opportunities arising from structural shifts in global energy systems.
Mercuria is among a number of major energy traders increasingly moving into metals markets, betting that the global energy transition and rising demand for critical minerals will create long-term commercial opportunities.
Last month, Mercuria warned that tightening conditions in global copper markets are expected to intensify again next year, potentially driving higher prices for both copper concentrate and refined metal.
For Geotechmin, the agreement provides secure and competitive access to international markets. Ivan Vutov, Deputy Manager of Geotechmin, noted that the offtake deal strengthens the company’s commercial position and supports the future development of the Ellatzite operation.
The Ellatzite mine is projected to produce approximately 195,000 wet metric tons of copper concentrate in 2026.
