Mineral Commodities garnet offtake could add $20m a year in revenues
Published: Tuesday, 15 July 2014
The agreement with GMA will provide Mineral Commodities with offtake of garnet for the entire mine life at its South African Tormin mineral sands project. The additional revenues will be a boost of the company, as original project figures did not account for sales of garnet, which is a by-product of the company’s mineral sands production.
The subsidiary of Mineral Commodities Ltd, Mineral Sands
Resources, has entered into a three year garnet offtake agreement
with producer and distributor GMA Garnet Group.
Under the terms of the three-year agreement, GMA will be
able to purchase a minimum of 150,000 tpa and up to 240,000 tpa