This tick's the boxes for me."Gindalbie is also pleased to...

This tick's the boxes for me.

"Gindalbie is also pleased to announce that agreement has now been reached with Ansteel to set the reference benchmark pricing index during the first year of the magnetite concentrate sales agreement from the now obsolete annual Hamersley Iron FOB price to the Platts IODEX 62% Fe CFR index. Furthermore KML has negotiated the right to sell 30% of magnetite concentrate produced during the first year of the concentrate sales agreement to independent third parties. Ansteel continues to be obliged to purchase the remaining 70% of concentrate under the agreement. On the first anniversary of the start of the concentrate sales agreement, the pricing mechanism under this agreement will be renegotiated based on the established market price for Karara magnetite concentrate or other similar magnetite concentrate products."