Fastmarkets' 44% Mn ore cif index to be used in proposed offtake agreement between Element 25 and OMH

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).
Fastmarkets’ manganese ore index 44% Mn, cif Tianjin was calculated at $4.34 per dry metric tonne unit (dmtu) on Friday October 9, down by 6 cents, or 1.4%, from $4.40 per dmtu a week earlier.

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Amy Lv

October 14, 2020

09:43 GMT