It's when a company (such as a steel producer in this case)...

It's when a company (such as a steel producer in this case) agrees to purchase (or broker) a certain tonnage of mined material.

Good for the mine because they lock in sales. Good for the purchaser because they secure a discount.

BTU has secured one off-take agreement already (StemCor from memory - see previous announcements) for some percentage of the overall production of the mine.

Hopefully there is a second one in the works.

Market likes this stuff because it reduces risk (locked in customers).

Ben