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Magnetite moves

THE South Australian Magnetite Consortium has signed a non-binding letter of intent with a Chinese steelmaker to purchase 1 million tonnes per annum of iron ore concentrate.

Noel Dyson
Razorback's muck pile with barrels ready to collect samples.

Razorback's muck pile with barrels ready to collect samples.

The parties hope the LoI will be the prologue to the negotiation of an offtake contract. Magnetite Mines chairman Gordon Toll said the LoI created a relationship of global significance in the pellet...

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