Sirius Minerals has signed a binding offtake agreement to supply POLY4 to PT Chemical Indonesia, a subsidiary of Wilmar Group, for exclusive re-sale into South East Asian territories including Indonesia, Malaysia, Vietnam, Thailand, Philippines and Myanmar. The term of the agreement is for an initial seven years following initial production, which may be extended by a further three years by Wilmar. It has a delivery schedule of up to 750,000 tpa in the seventh year. In addition, Wilmar has an option to increase the minimum volumes of supply up to 1m tpa. "Wilmar is a partner with the capacity to reach a diverse customer base through well established, trusted relationships," chief executive Chris Fraser said. "South East Asia is a fast-growing market which provides Sirius with an attractive opportunity to further diversify and grow our current portfolio of customers."
-0.19p (-0.73%)delayed 14:29PM