Shaw River signs off-take deal

ASX-listed Shaw River Manganese last week announced that it had secured an off-take agreement with Noble Resources International for up to 30 000 tons of manganese from its flagship Otjozondu project in Namibia. The sales contract was structured for fixed pricing, at different product specifications, enabling Shaw River to sell various manganese ores with more certainty over revenue, and within a flexible time frame. Under the terms of the off-take agreement, the company can, at its election, sell up to 30 000 tons of ore to Noble before the end of March next year. “This agreement with Noble places the Shaw River group in a strong position to progress the Otjo project and also provides the Shaw River group with a unique opportunity to test its logistics chain and mine planning going forward,” MD Peter Cunningham said. The company is currently in the final stages of completing an infill and grade control programme at the Labusrus and Bosrand areas at Otjo, and was hoping to start mining of bulk samples in early November. The project currently has a mineral resource of some 17-million tons, grading 22.5% manganese PERTH MININGWEEKLY