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AfriTin Mining renews offtake agreement with Thaisarco, inks offtake deal with AfriMet
StockMarketWire.com
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Tin mining company AfriTin Mining said it had agreed a new offtake agreement for its tin concentrate with its existing trading partner, Thailand Smelting and Refining Corporation, and signed an inaugural offtake agreement with AfriMet for its future tantalum production.
The tin concentrate offtake agreement with Thaisarco had been renewed for a further three years, until 30 November 2023 relating to delivery of product at Walvis Bay Cargo Terminal in Namibia, the company said.
Under the agreement, AfriMet agreed to pay AfriTin a payment calculated by reference to the amount of tantalum pentoxide contained in the tantalum concentrate, at a price in US$ per/lb of the average of the Argus Metals tantalum price and Asian Metals tantalum price for the two months prior to the expected delivery date, less a deduction of US$1 per/lb.
The tantalum concentrate offtake agreement included a US$500k advance payment option.
At 8:24am: (LON:ATM) Afritin Mining Limited Ord Npv share price was 0p at 2.4p
Story provided by StockMarketWire.com
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