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Article: MOUNT GIBSON IRON ENTERS NEW ORE SALES AGREEMENT.
- Article from:
- AsiaPulse News
- Article date:
- April 19, 2002
CopyrightCOPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PERTH, April 19 Asia Pulse - Mount Gibson Iron Ltd (ASX:MGX) is to supply hematite ore under a new sales contract and agency agreement with Glencore International AG.
Glencore will purchase 1.5 million tonnes per annum of hematite ore from Mt Gibson's hematite project in Western Australia for an initial term of five years starting in 2003.
Glencore will utilise some of the ore at its joint venture pig iron plant in Nanjing in Southern China and on-sell the balance to selected mills, primarily in China.
Mt Gibson chairman Bill Willis said Glencore will also act as agent for the company in the sale of the balance of its intended initial ...