The South Australian Magnetite Consortium has inked another sale and purchasing letter of intent(LoI), this time with Chinese steel company Sha Steel, for the purchase of two-million tonnes a year of iron-ore concentrate for sinter feed blends.
ASX-listed Magnetite Mines chairperson Gordon Toll said on Monday that the LoI created a value adding relationship with one of the largest, most efficient and entrepreneurial large steel companies in the world.
