Atrum Coal NL Execution of Non-Binding MOU - Japanese Steel Conglomerate
16.03.2015 | ABN Newswire
Sydney, Australia (ABN Newswire) - Atrum Coal (ASX:ATU) (OTCMKTS:ATRCF) Signs an Offtake agreement with a large Japanese steel conglomerate.Highlights:
- Atrum signs non-binding Memorandum of Understanding (MOU) to negotiate binding Sales Agency Agreement (SAA) and for offtake
- The Confidential Party is one of Japan's top three steel producing conglomerates and a significant importer and consumer of high grade and ultra high grade anthracite
- The MOU covers a range of high value products planned to be produced from Groundhog anthracite including: lump coke replacement; coke replacement for use in sintering iron ore; blast furnace injection coal; recarburisers in electric arc furnaces; charge carbon; filtration media and activated carbon; carbon cathodes, anodes and electrodes; lithium ion battery anodes; electrode paste; synthetic graphite replacement; calcined anthracite; carbon feed for manufacturing of: calcium carbide; silicon; phosphorous; soda; sodium sulphide; plastics and urea
- MOU terms include negotiation of exclusive rights to certain customers and jurisdictions, premium product pricing commensurate with high value anthracite applications, a minimum 20 year term and an agreement to work towards a binding SAA Executive Chairman, Mr James Chisholm commented on the non-binding MOU stating: "We continue to build strong relationships with tier one counterparties in Japan where we intend to deliver a large proportion of our high grade and ultra-high grade anthracite."
About Atrum Coal NL:
Atrum Coal NL (ASX:ATU) (OTCMKTS:ATRCF) is an emerging metallurgical coal explorer and developer.
The Company has a substantial coal position in British Columbia which, as a region boasts:
- Abundance of high quality PCI, coking and anthracite coals
- Well developed rail and port infrastructure with excess capacity
- Access to deep sea ports
- Competitive shipping distance to Asia
- Positive government stance on mining
The Company is building a quality portfolio of metallurgical coal assets suited to the Asian export market and the Board of Directors have a strong track record in identifying and developing world class coal assets in Australia and abroad.
Contact:
Atrum Coal NL
T: +61-8-9388-3131
www.atrumcoal.com