- Write by:
-
Monday, April 20, 2020 - 12:07:11 PM
-
943 Visit
-
Print
Mining News Pro - Strandline Resources has boosted its funding for the Coburn mineral sands project in Western Australia after penning three binding product offtake agreements.
According to Mining News Pro - The company has secured approximately 66 per cent of the project’s forecast revenue through the new contracts.
Strandline’s three binding offtake agreements include a zircon concentrate sales contract with Sanxiang Advancement Materials and Nanjin Rzisources International Trading operating in a strategic partnership, a zircon concentrate contract with Industry Bitossi and an ilmenite sales contract with The Chemours Company.
The three long-term agreements will see Strandline’s commodities exported to China, Europe and America respectively, covering 100 per cent of Coburn’s ilmenite and 100 per cent of zircon concentrate.
A significant portion of Coburn’s premium zircon product will also be produced at the site for the first five years. A combined value of $US400 million ($615 million) is estimated for the value of the three contracts.
Strandline managing director Luke Graham described the sales contracts as “huge endorsements” for the Coburn project.
“These contracts, with three leading global consumers, are huge endorsements of Coburn and underpin our plan to secure project funding,” he said.
“With two-thirds of the project’s revenue now underwritten by offtake agreements and the remaining agreements well advanced, Strandline is advancing strongly towards development of this world-class project.”
A total of $1.9 billion of earnings is forecast for the Coburn site in the first 22.5 years of its potential 38-year mine life, according to its definitive feasibility study (DFS).
Coburn is continuing to advance negotiations for its remaining revenue streams, which includes 24,000 tonnes of rutile per annum, along with the remaining premium finish zircon.
Short Link:
https://www.miningnews.ir/En/News/518008
London-based Savannah Resources will if necessary ask Portugal’s government to authorize compulsory land acquisitions ...
Newmont Corp. has no plans to expedite a decision on its $2.5 billion Yanacocha Sulfides project, dashing the Peruvian ...
Imports of iron ore by China, the world’s biggest buyer, in 2024 are expected to be around 1.17 to 1.18 billion metric ...
First Quantum Minerals said on Monday it is looking forward to talks with Panama’s new government to find a resolution ...
BHP has put South Africa and its mining sector on the spot. The $140 billion Australian group’s ambitious swoop on rival ...
China’s Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company ...
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the ...
Nigeria has revoked 924 dormant mining titles immediately and invites investors to freely apply for the affected ...
No comments have been posted yet ...