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TNG, a publicly traded company, has signed a binding mining life and marketing agreement to produce titanium dioxide pigments at the Mt Peake titanium iron project in the Northern Territory.
, general manager and chief executive of TNG, said:
Than is a very exciting milestone for TNG and marks the formal establishment of our strong relationship with DKSH, one of the world's leading providers of market expansion."
"We have now converted the previously announced binding terms list with DKSH into a binding offtkae agreement within the time frame we have set, which is a huge achievement for TNG, our shareholders and the Mt Peake
.
DKSH will purchase up to 150,000 tons/year of titanium dioxide pigments, or 100% titanium dioxide pigments, for global sales by ship delivery, excluding the Iberian Peninsula and the Nordic countries of Europe.
the company has reached a binding mining age agreement with South Korea's WOOJIN for its tantalum and binding terms with Gunvor for Mt Peake iron ore products.
"We are also working to sign final binding contracts for our niobium oxide and iron products in the coming months," he said. Together with the ongoing front-end engineering and design work, these agreements will effectively fund our Pic Hill strategic exploitation. "