Australian miner Sundance Resources has announced that its subsidiaries have signed a 10-year offtake agreement with global commodity trader Noble Resources International Pte Limited (Noble), a wholly-owned subsidiary of the Noble Group.
In the first 10 years, Noble will buy all the products produced at Sundance's Mbalam-Nabeba Iron Ore Project in Africa.
Under the terms of agreement, Sundance has the option of clawback of up to 50 percent of the production to supply the project equity providers.