Nautilus signs copper offtake with Tongling
Apr 23, 2012 | 04:35 PM
| Barbara O'Donovan
NEW YORK Nautilus Minerals Inc. has signed an offtake agreement with Tongling Nonferrous Metals Group Co. Ltd. for the sale of material from its underwater Solwara 1 copper-gold deposit.
Tongling will buy 1.1 million tonnes per year, plus or minus 20 percent, for three years on a take-or-pay basis, starting with the first delivery of material from Solwara in the Bismarck Sea near Papua New Guinea, which is targeted for the fourth quarter of....
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