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Meridian strikes 20 000 t/y manganese offtake deal

22nd June 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

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VANCOUVER (miningweekly.com) – Junior manganese producer Meridian Mining has secured an offtake agreement for about 20 000 t/y, or about one-third of the planned 2017 production of high-grade manganese from its Brazil Manganese Corporation (BMC) project.

The TSX-V-listed miner said the sales contract will comprise two shipments to be completed before the end of the year. 

The first is for 10 000 t to be delivered in September, and the second 10 000 t to be delivered in December.  

Meridian advised that the manganese will be priced at a premium to the benchmark, given the high-grade nature of its product. According to information provided by Metal Bulletin on Tuesday, the benchmark price for manganese is $5.76/t for 44% content manganese, or $253.44/t, including cost, insurance and freight delivered to Tianjin, China.

With the new contract, Meridian's sales orders for 2017 are 18 799 t sold and delivered and 32 463 t committed.

"With commissioning of our pilot plant expected in the coming weeks, we are well on the way to growing production capacity to 50 000 t/y, helping us to better address the growing global demand for high-grade manganese,” Meridian president and CEO Anthony Julien said in a statement.

High-grade manganese has several applications beyond steel production, including the manufacture of batteries and use as a fertiliser.

Edited by Creamer Media Reporter

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