Genmin Signs two offtake MoUs for iron ore products
- Genmin (GEN) enters into two non-binding memorandum of understanding deals for iron ore products from its wholly-owned Baniaka iron ore project in central West Africa
- The MoUs were penned with China-based companies, Minmetals and CDSS
- Under the deals, the company will sell and deliver three million tonnes per annum (Mtpa) of fines product and one Mtpa of lump product over a three-year term
- The three companies will endeavour to enter into legally binding offtake agreements by June 30 2023
- The company has been trading steady at 18 cents
