Australia-based Admiralty Resources has announced that it has taken a key step toward commercializing its Chilean Mariposa Iron Ore Project, signing a supply contract with Singaporean trader Trafigura Pte Ltd. The deal covers roughly 150,000 wmt of Mariposa iron ore with 65 percent Fe to be supplied between December 2025 and December 2026.
Strategic move toward commercial production
The agreement advances Admiralty’s strategy to transition Mariposa from pilot stage to steady output. Though modest in size compared to major producers, the contract:
- provides a reliable revenue stream,
- supports continuity of operations for the Chilean subsidiary,
- demonstrates market acceptance of MIO’s quality,
- strengthens Admiralty’s ability to finance and scale production,
- formally establishes Trafigura as an initial commercial buyer.
Admiralty also emphasized that the deal may expand if performance, quality and logistics remain consistent.
Next steps for the Mariposa project
The company indicated that the shipments will occur in three cargoes, each subject to inspection and quality verification.
While the contract is limited to one year, it forms the basis for potential multi-year expansion if logistics, cash flow and contract performance remain strong.
