Tri-Star Resources (AIM: TSTR), the integrated antimony development company, is pleased to announce that it has entered into a shareholders agreement with Oman Investment Fund ("OIF") and Castell Investments Ltd ("Castell") in respect of SPMP, a joint venture company which is intended will construct and operate a 20,000 tonne per annum nameplate capacity antimony metal and tri-oxide manufacturing roasting facility in Oman (the "Roaster Project").
SPMP will be incorporated in the Sohar Free Trade Zone ("Sohar FTZ") in Oman. The Sohar FTZ is being developed into a major regional and international hub for the downstream processing of metals and minerals. It is served with excellent logistical nodes, including its close proximity to the Port of Sohar, and low energy costs. The fiscal regime for Sohar FTZ companies is also attractive with a zero corporation tax rate provided that certain Oman national employment levels are achieved. SPMP is expected to enter into a land lease over a 22 hectare plot in Sohar FTZ.