Malaysia-based miner Fortress Minerals Limited has announced that its subsidiary Fortress Resources Pte. Ltd. (FRPL) has inked two new iron ore supply agreements with an undisclosed third-party domestic steelmaker.
Within the scope of the agreement, during the period between November 1, 2024, and December 31, 2025, FRPL will supply a total of about 510,000 wet metric tons (wmt) of iron ore to the steelmaker in question.
Also, the selling price of deliveries will be based on the average daily price of S&P Global Platts for 65 percent Fe and 58 percent Fe CFR North China, that will be adjusted to the Fe content of each shipment.