PERTH (miningweekly.com) – ASX-listed Shaw River Manganese on Wednesday announced that it had secured an offtake agreement with Noble Resources International for up to 30 000 t of manganese from its flagship Otjozondu project, in Namibia.
The sales contract was structured for fixed pricing, at different product specifications, enabling Shaw River to sell various manganese ores with more certainty over revenue, and within a flexible timeframe.
Under the terms of the offtake agreement, the company can, at its election, sell up to 30 000 t of ore to Noble before the end of March next year.
“This agreement with Noble places the Shaw River group in a strong position to progress the Otjo project and also provides the Shaw River group with a unique opportunity to test its logistics chain and mine planning going forward,” MD Peter Cunningham said.
The company was currently in the final stages of completing an infill and grade control programme at the Labusrus and Bosrand areas at Otjo, and was hoping to start mining of bulk samples in early November.
The project currently has a mineral resource of some 17-million tonnes, grading 22.5% manganese.