Coziron bags iron sands supply deal from Chinese firm
Monday, January 5 2009 - 07:44 AM WIB
ASX-listed firm Coziron Resources Limited announced on Monday it had signed a 5-year 30,000 tonnes per month of iron sands supply contract from its Agam project in West Sumatra with Chinese firm Wuhan Tongrui Industry & Trade Ltd.
The company said the deal was signed following a series of metallurgical tests that proved the product is suitable for Wuhan?s use.
According to Coziron, Wuhan has three factories producing pellets supplying a number of major steel mills in China.
Coziron said that it is currently finalizing its mining plan and comparing quotations on processing equipment in order to start production in 2009.
Coziron is planning to initially produce 30,000 tonnes per month of iron sands from Agam project with initial mine life expected to last for 8 years.(alex)