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Sherwin Iron Limited (ASX:SHD) says it has a buyer for more than 200,000 tonnes of iron ore from its Roper River tenement.
The Northern Territory miner says it’s signed an agreement with one of the top three iron ore traders in China, however it has not revealed which company it’s in agreement with or how much the contract is worth.
All 200,000 tonnes is expected to be shipped in the next 4 months.
Sherwin says the agreement will enable it to test all aspects of the production process, prior to full production planned for November this year.
The first delivery under the contract is expected to be in June, with site preparations under way.
Sherwin Iron posted a net loss of $1.07 million for the first half of the current financial year.
