|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]|