Australian
iron ore miner Gindalbie Metals Ltd has announced that it has reached an agreement regarding supplies of
iron ore to Sino Steel Midwest, the Australian subsidiary of
China's state-owned Sino Steel Corporation. Accordingly, Gindalbie will ship 480,000 mt of
iron ore to Sino Steel Midwest in the coming eight months.
Gindalbie plans to deliver the first cargoes consisting of 120,000 mt of
iron ore in the next two months from its Karara
iron ore base in Western
Australia, in which it holds a 50 percent stake while Chinese steel giant Anshan Steel Group holds the other 50 percent. Gindalbie will then deliver 60,000 mt in each of the subsequent months.