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Mount Gibson Entered Into Iron Ore Sales Agreement With Glencore International
= Glencore to purchase 1.44Mtpa of Extension Hill hematite =
Australia's Mount Gibson Iron Limited announced on Aug 16 that it has entered into a life of mine agreement for the sale of Western Australian Extension Hill hematite with Glencore International, one of the world's leading integrated producers and marketers of commodities.

Under the agreement, Glencore will purchase 48% of life of mine production, equivalent to approximately 1.44Mtpa at production rates of 3Mtpa. Pricing under the agreement will be referable to a market based clearing mechanism using Platts indices.
last modified : Tue 23 Aug, 2011 [11:22]
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