Flinders Mines has executed binding, non exclusive Memoranda of Understanding (MOU) with an additional six Chinese steel mills. This takes the total number of MOUs signed to 10.
To date, Flinders marketing team has engaged with more than 40 Chinese steel mills and expects several more will sign binding MOUs in the coming months.
These agreements will allow potential customers of the sinter fines product from the company’s Pilbara Iron Ore Project to undertake technical and commercial evaluations of ore in order to assess its suitability for their steelmaking operations. Flinders expects this will ultimately lead to Letters of Intent with a number of foundation customers.
All of the steel mills that have signed MOUs have expressed a strong interest in receiving Flinders’ iron ore as soon as possible.