- Magnum Mining & Exploration (MGU) has begun offtake discussions for its Buena Vista Iron Ore Project with Anglo American
- MGU and Anglo have signed a mandate letter and an indicative term sheet in relation to offtake and pre financing discussion for the Nevada asset
- Initial terms could have the mining giant buy between 560,000 tonnes to 800,000 tonnes of MGU's direct shipping ore (DSO)
- This would amount to 100 per cent of Magnum's ore and would cost Anglo up to US$12 million (about A$15.48 million) in payments
To read the full article on The Market Herald click here.
Magnum Mining & Exploration (ASX:MGU) begins offtake discussion with Anglo American
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