Brief: Nordic Iron Ore Signs Offtake Agreement With Cargill

Nordic Iron Ore AB

13/07/2023 07:29

July 13 (Reuters) - Nordic Iron Ore AB  NIO.ST :
    * SAID ON WEDNESDAY NORDIC IRON ORE SIGNS SEK 35 BLN OFFTAKE
AGREEMENT, SEK 307 MILLION CONDITIONAL FUNDING COMMITMENT WITH
CARGILL 
    * CARGILL UNDERTAKES TO BUY 25 MT OF HIGH-GRADE IRON ORE
CONCENTRATE FROM THE BLÖTBERGET MINE IN DALARNA, SWEDEN
    * CARGILL WILL INVEST ITS PRO RATA PORTION OF THE CAPITAL
REQUIRED, LESS THE SENIOR DEBT PART, UP TO A MAXIMUM OF USD 23
MILLION
    * OFFTAKE AGREEMENT IS ESTIMATED TO GENERATE SEK 35 BILLION
IN
TOTAL REVENUE DURING AN ESTIMATED PERIOD OF AT LEAST 15 YEARS OF
PRODUCTION

        
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