it certainly is GREAT news - "delivery of a flexible monthly volume of iron ore dependent on monthly production volume until 31 March 2024, up to 165,000 tonnes"
"The price of the product (delivered to the customer at the mine gate) is determined and
calculated at a discount to the Metal Bulletin Iron Ore Fines 62% Fe CFR China index"
Current Iron Ore Fines 62% Fe CFR China = $111.43 USD MT
Best case - 165000 x $100.00 = $16.5 mill. x 9 months = $148.5 mill. USD
Please someone shoot down my calculations because that dont sound right
Ann: Third Sales Contract Executed in Brazil, page-15
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