Mayur Resources Ltd (ASX: MRL) is pleased to announce that it has entered into a condition precedent binding offtake agreement (Agreement) with Qingdao Shinebest (Shinebest) for the vanadium titano-magnetite (VTM) iron sands product (Product) from the Orokolo Bay Industrial Sands Project in Gulf Province.
Shinebest was established in 2004, and is a company specializing in research, production and sales of furnace maintenance / protecting solvent and titanium concentrate. It is the largest deep - processing enterprise of tailing re-utilization of vanadium-titanium magnetite ore in northern China.
Shinebest has a well-established relationship with the steel making industry and has won wide recognition over the last 10 years based on its product quality.
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