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.