"Macarthur Minerals announces Binding Off-take Agreement with Glencore"
April 15 2019 - 7:00AM
InvestorsHub NewsWire
"Macarthur
Minerals
announces
Binding
Off-take Agreement with Glencore"
Toowong,
Australia -- April 15, 2019 -- InvestorsHub NewsWire -- Macarthur
Minerals (TSX-V: MMS) (OTCQB: MMSDF) is proud to
announce it has signed
a
binding
life-of-mine offtake agreement
with Glencore
International A.G., one of the worlds largest
globally diversified natural resource companies. The agreement is for the
sale of iron
ore, from the commencement of
commercial production, to be produced from
the
Company's Iron
Projects at Lake Giles in the
Yilgarn
region of Western
Australia. The agreement has
commercial
terms for
approximately 4 million tonnes per annum average for the first 10
years, with the option to extend for a following 10 years for all
tonnes of future Lake Giles iron ore production.
Macarthur has
also made further advancements in the commercialisation
of its Iron Ore
Projects with the recent announcement that it has entered into
a negotiation
Agreement with
Aurizon, Australia's largest rail freight operator, to provide rail
haulage services including the supply of
rolling stock, for the purpose of
transporting iron ore from the Project to the Port of
Esperance.
The Company has
delineated more than 1.3 billion tonnes of inferred magnetite
resource at 30.1% Fe for its Moonshine Magnetite Project
("Moonshine"). In
addition, the Ularring Hematite Project
("Ularring") has an Indicated Mineral
Resource of 54.46 million tonnes ("Mt") @ 47.2% Fe and an Inferred
Mineral Resource inventory of 25.39 Mt @ 45.2% Fe.
The
increase
in iron ore
prices following the cut in Vale's output after its fatal tailings
dam failure in Brazil a few months
ago, have had positive benefits to
the Lake
Giles iron projects. Recent price increases
coupled with several dealers increasing
their mid and long-term forecasts (i.e. UBS Warburg & Morgan
Stanley) for Iron Ore as a result of
global production cuts bodes well for Macarthur to
capitalize on the bullish outlook going forward.
For more
information go to:
www.macarthurminerals.com
https://markets.businessinsider.com/commodities/iron-ore-price
Investor
Cubed
Neil
Simon,
CEO
647-258-3310
nsimon@investor3.ca
Disclaimer:
The information
contained herein has not been reviewed or approved by any
regulatory body. This information is solely for discussion purposes
and should not be relied upon. Only regulatory approved releases
should be relied upon. The information contained herein is not a
solicitation to buy, hold or sell securities in any way.
Although Macarthur takes every precautious to ensure its
accuracy Macarthur takes no
responsibility for the information and contents contained
herein.
*Iron Ore prices
quoted are based on current prices and future forecasts. There is
no assurance these prices will stay at these levels
if and
when Macarthur starts production.
Commodity prices fluctuate and current values may
vary
and future prices
may not necessarily stay where current levels are.
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