Avanti Mining inks molybdenum offtake deal

Apr 28, 2014 | 01:14 PM | Daniel Fitzgerald

Tags  Avanti Mining, SeAH M&S, SeAH Group, Kitsault Mine, molybdenum, molybdenum mine, financing, permitting Gordon Bogden

NEW YORK — Avanti Mining Inc. has entered into an offtake agreement with a subsidiary of South Korean steel manufacturer SeAH Group for molybdenum concentrate production from its Kitsault Mine in northern British Columbia.

Under the terms of the deal, SeAH subsidiary SeAH M&S Corp. will receive up to 20 percent of molybdenum concentrate output from Kitsault over a 13-year period. Up to 4,200 tonnes of molybdenum concentrate (about 4.8 million pounds of molybdenum content) will be delivered to SeAH M&S in the first year, with another 4,200 tonnes deliverable....

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