Australian iron ore producer Atlas Iron Ltd has signed two long-term offtake agreements with Chinese steel mills for product from its Pardoo mine in Western Australia.
The two offtake agreements with two "medium-sized" Chinese mills will account for 50 per cent of the iron ore from the Pardoo mine in the Pilbara over a three year period to March 2012.
Atlas already has in place a three year offtake agreement for 30 per cent off the iron ore and is seeking a further agreement for the remaining volumes from the project.
Pardoo is located 75 kilometres by road from Port Hedland and is expected to produce about one million tonnes of iron ore during the first year of operation before ramping up to three million tonnes.
Source: Melbourne Age
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