Australia-based miner Northern Iron has announced that its wholly-owned subsidiary Sydvaranger Gruve AS has amended its offtake agreement with its largest customer regarding the supply of
iron ore concentrate from its
mining operation in northern
Norway.
Under the terms of amended agreement, Sydvaranger will supply additional volumes to the customer in question with pricing applied to all tonnage sold during the period from July 1, 2014 to March 31, 2015 at levels similar to spot pricing arrangements which will result in an improvement to the average realized price Sydvaranger could otherwise achieve.