Element 25 will sell 100% of the manganese ore produced from the first stage of its Butcherbird project in the Pilbara region of Western Australia to OM Materials Pte (OMS), a wholly-owned subsidiary of OM Holdings (OMH), under a proposed offtake agreement, the company said on Monday October 12.
The parties have proposed a pricing mechanism which is calculated as a discount against Fastmarkets' published 44% manganese benchmark price (adjusted for fob delivery terms), according to Element 25, which is listed on the Australian Securities Exchange (ASX).Minimum and maximum levels of...