PERTH (miningweekly.com) – ASX-listed Queensland Pacific Metals (QPM) has entered into a binding ore supply agreement with New Caledonia-based Société des Mines de la Tontouta (SMT) for the supply of up to 600 000 t/y of ore.
The agreement would span a ten-year period, and will be targeting a typical limonite ore specification of 1.6% nickel and 0.18% cobalt.
As part of the agreement, SMT and QPM have also agreed to explore further opportunities that are mutually beneficial including investment and other commercial arrangements.
“I am delighted to enter into this agreement with SMT who have impressive mining operations in New Caledonia that meet the requirements of western automobile manufacturers who are concerned with sustainability and responsible mining,” said QPM MD Dr Stephen Grocott.
“SMT has been a strong supporter of the TECH project for a long time and we look forward to having a long-term partnership that delivers value to both companies.”