Atlas Iron Ltd. has signed three new off-take contracts for 2.2 million metric tons (mt) of iron ore a year. The three contracts, which have durations of one to three years, were signed with two Chinese steel mills and a major international trading house.

Atlas also reported it has recently shipped its first cargo outside of China via a spot sale to a major Asian steel mill with a view to growing the relationship with the purchaser. Pricing for these recent term contracts are based on the benchmark 62% Fe index, adjusted for iron content and discounted for impurities in line with normal market practice.

Atlas Managing Director Ken Brinsden said the new contracts and Asia-wide interest reflected strong demand for Atlas’ product and the company’s growing reputation as a reliable producer. Atlas advises that negotiations are ongoing with a number of its existing customers about increasing sales tonnages under further term contracts. Atlas also continues to have discussions around new term contracts with a variety of other parties both inside and outside of China.

Resource Center Whitepapers, Videos, Case Studies

Let's stay in touch!

All of the latest mining news and our digital edition sent to your inbox once a week.

We'll never share your email address, and you can opt out at any time, we promise.