MAGNETITE
The South Australian Magnetite Consortium has inked another sale and purchasing letter of intent (LoI), this time with Chinese steel company Sha Steel, for the acquisition of two-million tonnes a year of iron-ore concentrate for sinter feed blends. ASX-listed Magnetite Mines chairperson Gordon Toll said on Monday that the LoI created a value-adding relationship with one of the largest, most efficient and entrepreneurial steel companies in the world.
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