20
Jun
11:39
Mount Gibson cancels Xinyu offtake agreement
Australian iron ore miner Mount Gibson Iron says it has cancelled an offtake agreement with China’s Xinyu Iron and Steel, one of three Chinese firms to sign offtake agreements in the last year. The move reportedly leaves the company with close to a third of its ore from Iron Hill unsubscribed, Kallanish notes.
The miner did not say what term of the agreement Xinyu had violated, but it added that it reserved the right to pursue Xinyu for any resulting losse…
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