Shaw River secures off-taker
Shaw River Manganese has locked in Noble Resources Pte Limited for the sale of up to 30,000 tonnes of manganese ore mined at its flagship Otjo project, situated in the Otjozondjupa Region, 140 kilometres north east of Windhoek.
Noble Resources is involved in the iron industry and considers itself one of the leading suppliers of iron ore in which manganese as an application.
Shaw River’s Managing Director, Peter Cunningham said, “This agreement with Noble places the Shaw River Group in a strong position to progress the Otjo project and also provides the Shaw River Group with a unique opportunity to test its logistics chain and mine planning going forward.” Shaw River is currently in the final stages of completing an infill and grade control programme at its Labusrus and Bosrand areas at Otjozondu and anticipates commencing mining of bulk samples totalling approximately 100,000 tonnes early in November this year.
The sales contract is structured for fixed pricing at different product specifications which enables the company to sell various manganese ores products with more certainty over revenue within a flexible time frame.
Under the terms of the agreement the company can, at its election, sell up to 30,000 tonnes to Noble before 31 March 2015.