Kwale offtake partner issues force majeure notice
Mineral sands producer Base Resources has received a force majeure notice from an ilmenite offtaker, seeking to suspend its obligations under the offtake agreement.
Under the terms of the agreement, the counterparty was due to purchase some 100 000 t of ilmenite by June this year, at an average price of $116/t, which was a significant premium to the current market price.