Flinders Mines has made a significant step toward making its Pilbara mining project a reality, with a spate of new contracts recently signed with Chinese steel mills.
In a statement today Flinders said it had secured a binding, non-exclusive memorandum of understanding with four Chinese mills.
The agreements will allow the Chinese entities to take a closer look at ore from Flinders to see if it's a match for their iron making operations.
Flinders said the it expected the agreements would ultimately lead to letters of intent from a number of Chinese customers.
“To date, the Flinders marketing team has engaged with over 30 Chinese steel mills and expects several more of them will sign binding MOUs in the coming months,” it said.
The company said while it had focused on approaching customers in China, it was also looking at inquires from Taiwanese, Korean, and Japanese buyers.
“This is a significant milestone in the development and de-risking of the Pilbara Iron Ore Project, with potential customers showing strong interest in the Flinders iron ore product,” the company said.
The company's PIOP is located around 60km from Tom Price, and includes two iron ore tenements.