Loading ...TORONTO (miningweekly.com) – Prospective ocean floor miner Nautilus Minerals has signed a new sales agreement with China-based Tongling Nonferrous Metals Group for the ores extracted from the company’s Solwara 1 deposit, located in the Bismarck Sea offshore Papua New Guinea, with first delivery expected in the first half of 2018. The two companies had entered into a new master ores sales and processing agreement (MOSPA), building on the April 2012 binding heads of agreement (HOA) for the sale of the product extracted from the Solwara 1 deposit. Under terms of the new take-or-pay agreement, Nautilus stood to benefit from significant cost savings and reduced business risk, while giving Tongling the freedom to process the Solwara 1 material in a manner which optimised its return, Nautilus said.
No Comments
No comments yet.
RSS feed for comments on this post.
Sorry, the comment form is closed at this time.