FMG inks sales agreements

IRON ore contender Fortescue Metals Group has inked further sales agreements for its Chichester Range project in Western Australia’s Pilbara region, locking in more than 88% of the planned 45 million tonnes per annum of production.

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Fortescue said it had signed agreements with three undisclosed China-based steel mills an aggregate 3Mtpa for a 10-year period, with contract prices based “on the industry standard of benchmark

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