Flinders signs MoUs with Chinese mills
PERTH (miningweekly.com) – ASX-listed junior Flinders Mines has signed memorandums of understanding (MoUs) with four Chinese steel mills over its flagship Pilbara iron-ore project.
The company said that the agreements would allow the potential customers of sinter fines product to undertake technical and commercial evaluations of ore, in order to assess its suitability for their iron making operations.
The company expected that this would ultimately lead to letters of intent with a number of foundation customers.
The 917-million-ton project was expected to deliver some 15-million tons of ore a year, and was set for first production in the second half of 2015.
To date, Flinders has been engaging with some 30 Chinese mills and expected several more to sign binding MoUs in the coming months. The miner said that while its market focus was predominantly on Chinese steel mills, it was also servicing initial marketing and expressions of interest from potential Taiwanese, Korean and Japanese customers.
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