PERTH (miningweekly.com) –The demand for ASX-listed junior Carpentaria Exploration’s Hawsons supergrade product has significantly increased, with Taiwanese conglomerate Formosa Plastics Group increasing its uptake.
Formosa has now increased its nonbinding letter of intent to purchase Hawsons supergrade product from 2-million tonnes a year to 2.6-million tonnes a year, for an initial period of ten years.
Some 12-million tonnes a year of Hawsons supergrade product is now under letters of intent with blue chip customers across Asia and the Middle East, accounting for 120% of the output rate being considered by the prefeasibility study currently under way for the Hawsons iron project, in New South Wales.
“We are delighted with this new positive development and look forward to converting this letter of intent to a definitive binding agreement during our bankable feasibility study,” said Carpentaria MD Quentin Hill.
“Given the strong customer support, we will look to configure the Hawsons project to maximise the output of Hawsons supergrade product during the bankable feasibility study.”
A prefeasibility study into the Hawsons project is currently ongoing, targeted for completion at the end of June, and looks at the development of a ten-million-tonne-a-year operation.