Mayur Resources in binding offtake with Qingdao Shinebest

Company News

by Rachael Jones

Mayur Resources (ASX:MRL) has entered into a binding offtake with Qingdao Shinebest for the vanadium titano-magnetite iron sands product from the Orokolo Bay Industrial Sands Project in Papua New Guinea.

Shinebest was established in 2004, and is the largest deep-processing enterprise of tailing re-utilization of vanadium-titanium magnetite ore in northern China.

The Agreement covers the initial requirement for a bulk sample of VTM to be used for commercial scale acceptance testing.

The Agreement also includes a commercial framework for the offtake of 200,000 tonnes of product per annum.

Shares in Mayur Resources (ASX:MRL) opened flat at 54 cents.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.