Mt Gibson cancels offtake contract

June 19, 2017

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Iron-ore junior Mount Gibson Iron has terminated an offtake agreement with Xinyu Iron and Steel Group after the Chinese firm failed to comply with the terms of the agreement.

The offtake agreement would have seen Hinyu purchase about one-quarter of the first year’s available production from the Iron Hill iron deposit, in Western Australia, over a period of 12 months.

Category: General