London Mining to supply iron ore to Cargill for five years

Thursday, 06 March 2014 17:07:06 (GMT+3)   |   Istanbul
       

UK-based London Mining, a global diversified miner targeting the steel sector, has announced that it has signed an off-take agreement with US-based commodity trader Cargill for supply of one million mt of iron ore concentrate from its Marampa operation in Sierra Leone for a period of five years, at higher pricing than existing arrangements with no marketing fees.
 
According to the off-take agreement, Cargill will make a pre-payment of $20 million to London Mining.

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