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Magnetite Mines Ltd (MGT.AX) Letter of Intent with Ningbo Iron and Steel for Off-Take of 1 Million Tonnes per Year • • ABN Newswire • Stocks

Sydney, Australia (ABN Newswire) - The Board of Magnetite Mines Limited (ASX:MGT) (Company) is very pleased to announce the signing of a Sale and Purchasing Letter of Intent (LOI) between The South Australian Magnetite Consortium (Consortium) and Ningbo Iron & Steel Co Ltd (Ningbo) for the purchase of 1 million tpy of iron ore concentrate. Ningbo Steel is owned by Hangzhou Steel and is an integrated steel company located with a deep water receiving port at the mouth of the Yangtze River and...

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