Brief: Nordic Mining Enters Into Offtake Agreement With International Distributor

Nordic Mining ASA

16/01/2023 09:54

Jan 16 (Reuters) - Nordic Mining ASA  NOM.OL :
    * NORDIC MINING ASA: BINDING GARNET OFFTAKE AGREEMENT WITH
LEADING
INTERNATIONAL DISTRIBUTOR OF INDUSTRIAL ABRASIVES
    * THROUGH ITS WHOLLY-OWNED SUBSIDIARY NORDIC RUTILE AS,
TODAY HAS
ENTERED INTO A GLOBALLY EXCLUSIVE OFFTAKE AGREEMENT FOR FULL
PLANNED GARNET PRODUCTION FROM ENGEBØ FOR FIRST 5 YEARS OF
PRODUCTION
    * OFFTAKE AGREEMENT IS FOR SUPPLY AND DELIVERY OF MINIMUM
TOTAL OF
762,500 METRIC TONNES OF GARNET CONCENTRATE IN 5-YEAR CONTRACT
PERIOD
    * CONSIDERATION WILL BE BASED ON A PRE-AGREED PRICE SCHEDULE
FOR
5-YEAR PERIOD
    * FURTHER TO INITIAL OFFTAKE AGREEMENT, PARTIES SHALL
DISCUSS
EXTENSION OF COOPERATION

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